Stock futures pointed to a lower opening for Canada's main stock index on Tuesday as Brent crude fell to its lowest in more than four years after top oil exporter Saudi Arabia cut sales prices to the United States.
The S&P/TSX composite index ditched 75.70 points to end Monday at 14,537.62, with Tuesday futures off 0.08%.
The Canadian dollar plummeted 0.72 cents to 88.04 cents U.S. early Tuesday.
Bank of Nova Scotia said it was cutting about 1,500 jobs and would take a pre-tax charge of $451 million in the quarter ended Oct. 31.
Oil producer Talisman Energy Inc reported a bigger-than-expected quarterly profit as tight cost controls helped offset lower oil and gas prices.
WestJet Airlines Ltd, Canada's number-two airline, reported a third-quarter adjusted profit that missed analysts' average estimate, hurt by higher costs.
ON BAYSTREET
The TSX Venture Exchange ended lower 3.49 points to close Monday at 766.10.
ON WALLSTREET
Futures settled before Tuesday’s open, amid a slew of earnings.
Ahead of the opening bell, futures for the Dow Jones Industrials dipped 27 points, or 0.2%, to 17,258. Futures for the S&P 500 moved back 4.5 points, or 0.2%, to 2,006.50, and futures for the NASDAQ fell 11.75 points, or 0.3%, to 4,145.50.
Alibaba is set to release its first earnings report since its mega IPO. Investors are eagerly anticipating the results. Alibaba is now worth more than Wal-Mart.
Plenty of other companies will also be releasing quarterly results. Other big names reporting before the opening bell include Burger King, Office Depot, Estee Lauder and CVS Health. 21st Century Fox will report after the close.
This morning, the U.S. Census Bureau will release September data on the trade balance.
The European Commission slashed its expectations for euro-zone growth in its latest autumn economic report. The commission now expects the economy will grow by only 0.8% this year, 1.1% in 2015 and 1.7% in 2016.
It also gave major downgrades to the outlook for the two largest euro-zone economies — France and Germany. The euro-zone continues to struggle with terribly low inflation and high unemployment.
The Nikkei topped 17,000 in early trading — a level not seen since 2007 — as investors continued to cheer the Bank of Japan's decision to inject more cash into the economy. The Japanese yen continues to weaken versus the U.S. dollar.
Oil prices moved back $1.98 to $76.80 U.S. a barrel
Gold prices dropped $1.30 to $1,168.50 U.S. an ounce.
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