Stock futures pointed to a lower opening for Canada's main stock index on Tuesday as deepening worries about the health of the global economy unnerved investors.
The S&P/TSX composite index hurtled earthward 233.24 points, or 1.6%, to close out Friday at 14,227.36. Futures in Toronto were lower 1.6% Tuesday.
The Canadian dollar fell 0.38 cents to 88.92 cents U.S. early Tuesday.
Markets in Canada were shuttered Monday for Thanksgiving. The country's main stock index recorded its biggest drop in more than a year and hit a six-month low on Friday as worries about global economic growth hit shares in every major market sector.
Canadian Pacific Railway Ltd has approached CSX Corp. about merging the two North American railroad operators to create a transcontinental carrier worth more than $60 billion, according to the Wall Street Journal.
Canaccord Genuity raised the target on Canadian Tire Corp. to $138 from $123, with buy rating.
National Bank Financial resumed coverage on Lumenpulse Inc with an outperform rating.
ON BAYSTREET
The TSX Venture Exchange faded 9.69 points Friday to 827.13.
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ON WALLSTREET
After a series of rough trading sessions, it looks like stocks may be primed for a rebound.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 67 points, or 0.4%, to 16,299. Futures for the S&P 500 took on 10 points, or 0.5%, to 1875.50, and futures for the NASDAQ hiked 21 points, or 0.6%, to 3,819.50.
On Monday, the Dow lost 223 points, the S&P 500 slid 1.7%, and the NASDAQ ended the day 1.5% lower. Each of the major indexes has declined by 4% or more over the past three trading days.
A number of prominent companies will report earnings
Tuesday.JPMorgan, Citigroup, Wells Fargo, and Johnson & Johnson will post before the opening bell and Intel will release them after the close. Shares in Intel are edging up ahead of the open.
Shares in the French telecom Iliad were surging by about 12% in Europe after the company announced it was ditching its bid to buy a majority stake in T-Mobile US.
Burberry shares were down by over 5% in London after the company warned that it was facing a "difficult external environment," even though sales surged over the first six months of the year.
Shares in cruise ship operator Carnival looked set for a modest 1% recovery after falling by nearly 15% over the past five trading days. The company's stock has been slammed over fears that Ebola's spread will hurt cruise sales.
European markets were lower in early trading. This comes as an important economic indicator in Germany shows sentiment is at its lowest level since late 2012.
Most Asian markets ended with losses, except for the Australian ASX All Ordinaries index, which jumped by 1%.
Oil prices sagged $1.07 to $84.67 U.S. a barrel
Gold prices jumped $6.80 to $1,236.80 U.S. an ounce.
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