Stock futures pointed to a flat opening for Canada's main stock index as gold prices settled after a sharp selloff a day earlier
The S&P/TSX composite index surrendered 217.29 points, or 1.5%, to close Monday at 14,497.14
The Canadian dollar recovered 0.04 cents to 76.98 cents U.S. early Tuesday
Canadian National Railway reported stronger than expected second-quarter earnings and said it continues to expect double-digit growth in earnings per share for the full year on Monday, even as shipment volume slipped. Excluding a deferred tax expense, adjusted earnings rose 12% to $1.15 a share.
Barclays cut the price target on Lundin Mining to $7.00 from $8.00, expecting a weaker second-quarter compared to previous quarter due to moderating production.
Barclays cut the price target on Teck Resources to $15.00 from $20.00, anticipating a weaker second-quarter primarily driven by lower realized coal prices, lower zinc sales volumes and negative pricing adjustments on the base metals.
Canadian Pacific Railway reports earnings today, expecting Q2 earnings of $2.46 per share
Canfor Corp also reports, expecting Q2 earnings of 16 cents per share
ON BAYSTREET
The TSX Venture Exchange swooned 11.84 points Monday to 616.97.
ON WALLSTREET
U.S. stock futures are relatively stable ahead of the open, following a calm Monday.
Ahead of the opening bell, futures for the Dow Jones Industrials dipped 49 points, or 0.3%, to 17.954, futures for the S&P dipped one point, or 0.1%, to 2,121, and futures for the increased points, or 0.1%, to 4,676.75.
Shares in PayPal are rising by about 3% pre-market and there's a great deal of trading going on as the company begins its second day as an independent company.
The online payment service was spun off from eBay on Monday and its shares immediately shot up by about 5%. PayPal is now worth nearly $50 billion.
Newmont Mining Corporation shares are also climbing by about 3.5% pre-market, recovering from a big drop since Friday. Shares in the miner have been falling steadily since late 2011.
At the other end of the market, IBM's shares are dipping by about 5% in extended trading after the tech giant posted quarterly earnings that fell short of investors' expectations.
Summer earnings are still rolling in. Among the companies expected to report this morning are Harley-Davidson, Travelers and Verizon.
After the close, investors will hear from Apple, Microsoft, Yahoo, GoPro and Chipotle.
European markets are mixed in early trading, while most Asian markets ended with small gains.
Oil prices were unchanged at $50.15 U.S. a barrel
Gold prices sank $2.30 at $1,104.50 U.S. an ounce.
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