Futures for equities in Canada’s largest market edged lower on Tuesday, as investor worries over U.S.-China trade dispute remained high.
The S&P/TSX Composite Index jumped 116.62 points to close Monday at 16,346.66
The Canadian dollar faltered 0.17 cents to 74.23 cents U.S. early Tuesday
June futures eased 0.1% Tuesday.
Bank of Nova Scotia, Canada's third-biggest lender, missed analysts' estimates for second-quarter profit, as a jump in provisions for bad loans and non-interest expenses offset gains from its international banking division.
British Columbia said on Monday that its public drug plan will switch as many as 20,400 patients from three branded biologic drugs to cheap near-copies called biosimilars, saving an estimated $96.6 million over three years.
Credit Suisse cut the target price on First Quantum Minerals to $12.00 from $23.00
ON BAYSTREET
The TSX Venture Exchange inched forward 0.14 points Monday to 607.82.
ON WALLSTREET
U.S. stock futures indicated a flat open on Tuesday, with financial markets on edge as trade worries remain high on investors’ list of concerns.
Futures for the Dow Jones Industrial Average stepped backward six points to 25,614
Futures for the S&P 500 slumped 3.75 points, or 0.1%, at 2,828
NASDAQ futures dipped 3.5 points, or 0.1%, to 7,312.
U.S. markets were closed Monday for Memorial Day
Booz Allen Hamilton and MOMO Inc. are among the firms reporting earnings Tuesday.
President Donald Trump said Monday the U.S. was "not ready" to make a deal with China, before adding he expected one in the future. Trump also said tariffs on Chinese imports could go up "substantially."
Trump’s comments come after a commentary piece in Chinese state-run newspaper hinted China would not bend to U.S. demands change its state-run economy. The U.S. has raised concern over state-run companies and the forced surrender of intellectual property.
On the data front, the S&P/Case-Shiller home prices index (HPI) and the Federal Housing Finance Agency HPI for March are both expected at around 9:00 a.m. ET.
U.S. markets were closed Monday for Memorial Day
Overseas, the Nikkei 225 gained 0.4% Tuesday, while in Hong Kong, the Hang Seng index also gained 0.4%.
Oil prices gained 38 cents to $59.01 U.S. a barrel.
Gold prices were unchanged at $1,283.60 U.S. an ounce.
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