Equity markets in Canada looked set Tuesday to extend its previous session's gains as reports of talks to improve U.S. access to Chinese market eased trade war worries.
The S&P/TSX Composite Index gained 74.82 points to end Monday at 15,298.56
The Canadian dollar docked 0.25 cents to 77.75 cents U.S. early Tuesday
June futures improved 0.4% Tuesday.
The federal environment ministry says Husky Energy is facing a number of provincial and federal charges related to a July 2016 pipeline leak that spilled oil into a river in Western Canada
Jefferies cut the target price on First Quantum Minerals to $21.00 from $27.00
KBW cut the target price on Intact Financial to $108.00 from $111.00
Desjardins raised the target price on Lassonde Industries to $285.00 from $280.00
ON BAYSTREET
The TSX Venture Exchange dropped 1.26 points Monday to 816.54
ON WALLSTREET
U.S. stock index futures posted solid gains ahead of Tuesday's open, extending the gains seen in the previous trading day.
Futures for the Dow Jones Industrial Average leaped 129 points, or 0.5%, to 24,320
S&P 500 futures gained 13.25 points, or 0.5%, to 2,672.75, while futures on the NASDAQ Composite screamed higher 59.25 points, or 0.9%, to 6,832.75
In the corporate space, social media firms continue to be on the radar, as alleged abuse of people's data remains a key topic of discussion.
Last week, reports emerged alleging that Cambridge Analytica, an analytics company, had gathered data from 50 million Facebook profiles without users' permission. While Facebook has since come out to apologize and try to rectify the matter, concerns remain over data use.
International markets received a boost Tuesday after a strong day on Wall Street, with both Asian and European indexes posting gains during their respective trading sessions. Markets have bounced back over the past day, with investors attributing this to an alleviation of concerns over potential trade tariffs.
Last week, President Donald Trump signed an executive memorandum that would inflict tariffs on up to $60 billion U.S. in Chinese imports prompting China to retaliate, however news has emerged that the nations are open to discussions that could allay a trade war.
Switching focus to Tuesday's session, a slew of economic data is due to be released. At 9 a.m. ET, the S&P Case-Shiller House Price Index is due out, followed by consumer confidence at 10 a.m. ET, along with the Richmond Fed survey of manufacturing activity. At 10:30 a.m. ET meantime, the Dallas Fed's Texas service sector outlook survey is expected to be published.
Meanwhile, in Japan, the Nikkei 225 hiked 2.7%, while in Hong Kong, the Hang Seng Index increased 0.8%.
Oil prices up 26 cents to $65.81 U.S. per barrel.
Gold prices dropped $13.30 to $1,341.70 U.S. an ounce.
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