Stock futures pointed to a flat-to-slightly lower opening for equity markets in Toronto on Tuesday. Investors remained on edge about the East-West standoff over Crimea and awaited results from the U.S. Federal Reserve's two-day policy meeting starting later in the day.
The S&P/TSX composite index added 4.23 points to close Monday at 14,231.89, with futures down 0.1% Tuesday.
The Canadian dollar gained 0.55 cents at 90.55 cents U.S. early Tuesday
Air Canada has suspended flights to Caracas until further notice citing the ongoing civil unrest in Venezuela.
Ivanhoe Energy Inc suspended work on its 20,000-barrel-per-day Tamarack oil sands project while it awaits updated Alberta regulations on thermal oil sands applications.
U.S. farm co-operative CHS Inc. said would buy 16 Canadian farm retail outlets from Agrium Inc , and plans to further expand its business in Canada.
On the economic beat, a cheery sign from Statistics Canada, who told us that manufacturing sales rose 1.5% to $50.4 billion in January, the largest gain since last February.
Elsewhere, the Bank of Canada is redefining the role of its number-two policymaker, introducing changes that may attract a broader range of candidates to fill the job when the current second-in-command, Tiff Macklem, steps down later this year.
ON BAYSTREET
The TSX Venture Exchange stayed positive 0.50 points Monday to 1,034.14
ON WALLSTREET
Concerns about worsening relations between the West and Russia over the fate of Ukraine are weighing on market sentiment.
Still, ahead of the opening bell, futures for the Dow Jones Industrials advanced 53 points, or 0.3%, to 16,219. Futures for the S&P 500 took on 6.80 points, or 0.4%, to 1,857.50, and futures for the NASDAQ gained 11.50 points, or 0.3%, at 3,663.
On the corporate front, shares Hertz announced quarterly earnings and said it would spin off its equipment rental business to pay off debt. DSW will report earnings before the bell. Oracle, Adobe Systems, SolarCity and Pacific Sunwear will report after the close.
The stock price of Qiagen jumped in pre-market trading after the German medical laboratory company announced a share buyback.
The major European markets were all declining in morning trading. Asian markets ended mostly higher, with markets in Japan up nearly 1%.
But concerns remain that the situation in Ukraine will continue to dominate the headlines, putting further strains on Russia's relationship with the U.S. and Europe. Russia is not backing away from plans to annex Ukraine's Crimea region despite targeted sanctions announced Monday.
Investors are also monitoring Janet Yellen's first meeting as head of the U.S. Federal Reserve. The two-day meeting, which kicks off Tuesday, is expected to yield a continued winding down of the central bank's stimulus program.
In other economic news, the U.S. government will publish home construction numbers from February, as well as the consumer price index.
Oil prices improved 26 cents to $98.34 U.S. a barrel
Gold prices slid $13.20 to $1,359.70 U.S. an ounce.
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