Stock futures pointed to a higher opening for Canada's main stock index ahead of a two-day U.S. Federal Reserve meeting starting on Tuesday that investors are betting will leave interest rates unchanged.
The S&P/TSX Composite gained 45.54 points to close Monday at 14,496.23. December futures picked up 0.4%
The Canadian dollar eased 0.15 cents at 75.64 cents U.S. early Tuesday.
General Motors and the Canadian autoworkers union known as Unifor announced a tentative contract deal early on Tuesday, averting a strike that would have shut some of the automaker's Canadian manufacturing facilities.
Dundee raised the target price on B2Gold to $4.50 from $4.25
Canaccord Genuity cut the target price on IGM Financial to $35.50 from $35.75, with a hold rating
ON BAYSTREET
The TSX Venture Exchange remained positive 2.44 points Monday to 801.68
ON WALLSTREET
U.S. stock futures are holding steady ahead of the open.
Ahead of the opening bell, futures for the Dow Jones Industrials moved higher 58 points, or 0.3%, to 18,110, while futures for the S&P 500 gained 8.1 points, or 0.4%, at 2,141. NASDAQ futures added 17.5 points, or 0.4%, at 4,811.75.
Wells Fargo CEO John Stumpf is likely to be grilled by members of the Senate Banking Committee. He will be asked how Wells Fargo was able to create more than two million fake accounts and why top executives didn't catch the fraud even though they fired 5,300 employees over several years.
Three noteworthy companies are set to reveal quarterly numbers on Tuesday. Lennar kicks things off ahead of the open. Adobe Systems and FedEx will release results after the close.
Walmart is in the spotlight after completing its purchase of Jet.com last night. The takeover cost $3.3 billion U.S.
The deal may help Walmart reinvigorate growth in its online shopping business and challenge Amazon.
Important housing data is coming from the U.S. Census Bureau at 8:30 a.m. ET. The department is reporting national building permits and housing starts for August.
European markets are mixed in early trading, while Asian markets are closing out the day with muted results.
Oil prices faded 47 cents to $42.83 U.S. a barrel
Gold prices added 40 cents to $1,318.20 U.S. an ounce.
Related Stories
