Stock futures pointed to a lower opening for Canada's main stock index on Tuesday, as investors mentally prepared for the conclusion of this week's U.S. Federal Reserve meeting.
The S&P/TSX Composite slumped 38.87 points to close Monday at 16,492.17
The Canadian dollar moved backward 0.08 cents higher to 75.89 cents U.S. early Tuesday
September futures improved 0.1% Tuesday.
Air Canada reported a higher-than-expected profit for the second quarter on Tuesday, as the carrier flew more high-paying passengers, helping it weather the initial impact of the Boeing 737 Max grounding.
Newell Brands named Ravi Saligram, the outgoing chief executive officer of Ritchie Bros Auctioneers, as its top boss
Nutrien missed estimates for quarterly earnings and cut its full-year adjusted profit forecast on Monday, as the fertilizer maker struggles with recent floods in the U.S. midwest that delayed planting and a prolonged trade war.
RBC raised the target price on Ivanhoe Mines to $7.00 from $6.00
Canaccord Genuity cut the target price on Vermilion Energy to $40.00 from $45.00
ON BAYSTREET
The TSX Venture Exchange inched up 1.16 points Friday to 592.89
ON WALLSTREET
U.S. stock index futures fell on Tuesday after President Donald Trump renewed his attacks on China, decreasing hope the two largest world economies will reach a trade deal.
Futures for the Dow Jones Industrials sank 106 points, or 0.4%, to 27,092.
Futures for the S&P 500 fell 14.75 points, or 0.5%, at 3,007
NASDAQ futures plummeted 61.75 points, or 0.8%, to 7,939.50
Xerox, Unisys, and Ralph Lauren are among those companies reporting earnings Tuesday.
On the data front, there will be personal and consumer spending figures out this morning, as well as pending home sales and consumer confidence numbers.
Trump said in a series of tweets Tuesday that China is not keeping its promise of buying more U.S. agricultural products.
However, China insists it has bought U.S. agricultural products.
China and the U.S. agreed to restart trade talks late last month after they fell through in May. The two countries have been engaged in a trade war since last year. In that time, they’ve slapped tariffs on billions of dollars worth of each other’s goods.
Overseas, in Japan, the Nikkei 225 index gained 0.4% Tuesday, while in the Hong Kong, the Hang Seng index edged up 0.1%,
Oil prices gained 42 cents to $57.29 U.S. a barrel.
Gold prices added eight dollars to $1,428.40 U.S. an ounce.
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