Futures for Canada's main stock index slipped on Tuesday as a fall in bullion prices overshadowed a rise in crude prices on growing prospects of more Western sanctions on Russia over its invasion of Ukraine.
The S&P/TSX Composite Index marched ahead 132.65 points to close Monday at 22,085.60, a new record high for the index.
June futures inched back 0.1% Tuesday.
Lion Electric received an order for 50 all-electric LionC school buses from Autobus Campeau in Quebec.
Alliance Global Partners cut the price target on Mcloud Technologies to $5.50 from $6.50
Scotiabank cut the target price on Osisko Gold Royalties to $22.50 from $26.00
Economically speaking, Statistics Canada reported that in February, Canada's merchandise imports were up 3.9%, following a 7.5% decline in January. Meanwhile, exports rose 2.8% in February. As a result, Canada's merchandise trade surplus with the world narrowed from $3.1 billion in January to $2.7 billion in February.
The federal Liberals find themselves in a bind ahead of this week's budget: the economy has recovered from the pandemic, yet Prime Minister Justin Trudeau has pledged billions in new stimulus, a political poker chip that could further torch runaway inflation.
ON BAYSTREET
The TSX Venture Exchange moved forward 7.68 points Monday to 905.10.
ON WALLSTREET
Stock futures slipped in early morning trading Tuesday as traders continue to assess the bond market’s warning signals and the latest developments in the Ukraine-Russia war.
Futures for the Dow Jones Industrials slid 61 points, or 0.2%, to 34,768.
Futures for the S&P 500 handed back 7.25 points, or 0.2%, to 4,570.50.
Futures for the NASDAQ Composite Index faded 27.50 points, or 0.2%, to 15,136.75.
Investors also kept an eye on Europe, as the war between Ukraine and Russia dragged on. Ukraine President Volodymyr Zelenskyy pledged to pursue allegations of war crimes against Russian forces, noting that more than 300 people were killed and tortured in a suburb near the capital of Kyiv.
Shares of Twitter surged 27% for its best day ever after Elon Musk disclosed a 9.2% passive stake in the social media company. On Tuesday, the stock was up another 1.8%.
In Asia, the Nikkei 225 in Japan eked up 0.2%, while in Hong Kong, markets were closed for holiday.
Oil prices moved higher 48 cents to $103.78 U.S. a barrel.
Gold prices retreated five dollars to $1,929 U.S.
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