Futures pointed to a higher opening for equities in Toronto on Tuesday as oil prices steadied after news of lower crude supplies from Saudi Arabia.
The S&P/TSX Composite Index gained 66.01 points to conclude Friday and the week at 15,257.97. September futures gained 0.2% Tuesday morning.
Markets were closed Monday in Toronto for the Civic Holiday.
The Canadian dollar deducted half a cent to 79.03 cents U.S.
Valeant Pharmaceuticals International Inc reported a 7.8% fall in quarterly revenue, hurt by declines in volume and pricing of its generic and neurology products.
An attorney representing opponents of TransCanada Corp's proposed Keystone XL pipeline grilled the company's representatives during hearings in Nebraska on Monday, in proceedings that mark the last big hurdle for the long-delayed project.
Canadian environmental and aboriginal groups said they will push ahead with a lawsuit seeking to scrap an environmental permit granted to Malaysia's Petronas for a liquefied natural gas facility in British Columbia, despite the oil and gas firm's announcement last month that it was scrapping the project.
CIBC cut the price target on Black Diamond Group to $1.75 from $2.75
National Bank of Canada cut the target price on Element Fleet Management to $11.50
Canaccord Genuity cut the price target on Medical Facilities Corp. to $14.50 from $17.00
ON BAYSTREET
The TSX Venture Exchange faded 0.82 points Friday to 765.68
ON WALLSTREET
U.S. stock index futures pointed to a lower open on Tuesday, as investors continue to wade through another batch of corporate earnings and data
Ahead of the opening bell, futures for the Dow Jones Industrials dipped 13 points, or 0.1%, to 22,049. Futures for the S&P 500 slid 2.75 points, or 0.1%, to 2,424.75. NASDAQ futures shed 6.5 points, or 0.1%, to 5,927.50
Earnings season continues to rumble on, with a number of major companies set to report on Tuesday.
Michael Kors posted better-than-expected earnings and revenue and a smaller-than-expected fall in same-store sales. The stock shot up more than 12% in the pre-market.
CVS Health and Time Inc. posted results earlier on Tuesday. Ralph Lauren, Disney, TripAdvisor and Hertz Global will are also set to publish earnings Tuesday.
On the economic front, the Job Openings and Labor Turnover Survey (JOLTS) is set to come out at 10 a.m. ET on Tuesday, and the National Federation of Independent Business' small business optimism index hit 105.2 for July, higher than the 103.6 level in June.
Overseas, the Nikkei 225 in Japan lurched lower 0.3%, and Shanghai’s CSI 300 gained 0.2%.
Oil prices eked up nine cents to $49.48 U.S. per barrel.
Gold prices hiked $4.70 to $1,269.40 U.S. an ounce.
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