Stock futures pointed to a higher opening for Canada's main stock index on Tuesday as oil prices continued their upward trend after gaining more than 11% in the prior two sessions.
The S&P/TSX composite index gained 226.99 points, or 1.6%, to close Monday at 14,900.47, with March futures up 0.9% Tuesday.
The Canadian dollar subsided 0.02 cents to 79.56 U.S. early Tuesday.
CIBC raised the rating on Chorus Aviation to sector perform from underperform.
Dundee Capital cut the rating on Allied Properties REIT to neutral from buy
Canaccord Genuity raised the target price on Onex Corp. to $81.00 from $72.00
On the economic slate, Statistics Canada reported that its Industrial Product Price Index decreased 1.6% in December, mostly due to lower prices for energy and petroleum products.
The Raw Materials Price Index declined 7.6% in December, mainly because of lower prices for crude energy products.
ON BAYSTREET
The TSX Venture Exchange jumped 8.48 points Monday to 685.29
ON WALLSTREET
Futures are mixed in pre-market trade in New York, helped upward by advances in energy stocks.
Ahead of the opening bell, futures for the Dow Jones Industrials advanced 37 points, or 0.2%, to 17,336. Futures for the S&P 500 gained 4.20 points, or 0.2%, to 2,021.30, and futures for the NASDAQ dipped 4.75 points, or 0.1%, to 4,180.75.
A key mover is Transocean, which is gaining 4% in pre-market trade. Other energy companies are also moving up.
RadioShack's financial problems worsened overnight after the New York Stock Exchange suspended trading of its shares, and a key lender said it defaulted on a financial lifeline.
RadioShack shares lost 90% of their value in the last 12 months as investors worried that bankruptcy loomed.
On the flip side of the coin, shares in Staples are rising by about 11% premarket after the Wall Street Journal reported that the company is in advanced talks about a deal with Office Depot.
Investors have been hoping that the two companies would combine operations. Both firms have been struggling with falling demand for office supplies.
The New York Times and UPS will report earnings before the opening bell.
Chipotle Mexican Grill, Aflac and Disney will report after the close.
The Australian central bank is cutting its key interest rate by 25 basis points to a record low of 2.25%.
Australia's main stock market index jumped by 1.4%.
Across the rest of Asia, markets were mixed.
Oil prices added 95 cents to $50.52 U.S. a barrel
Gold prices slid four dollars to $1,272.90 U.S. an ounce.
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