Futures for Canada's main stock index edged higher on Tuesday helped by an uptick in gold prices, ahead of the key U.S. inflation data which
could provide cues on the Federal Reserve's monetary policy tightening path.
The TSX prospered 90.11 points to finish Monday at 20,702.23.
March futures on the S&P/TSX index eked up 0.1% Tuesday morning.
The Canadian dollar docked 0.06 cents to 74.94 cents U.S.
Tim Hortons parent Restaurant Brands International named Joshua Kobza its new chief executive officer effective March 1, and reported fourth-quarter revenue slightly above analysts' average estimate, boosted by strong demand at three of its main restaurant chains.
TC Energy beat market estimates for fourth-quarter profit, as robust demand for energy boosted the
North American pipeline operator's earnings from transporting natural gas.
Algoma Steel Group posted a decline in revenue and net income in the third quarter of the fiscal year 2023, due to a decrease in production volume and higher production costs.
ON BAYSTREET
The TSX Venture Exchange gained 2.99 points Monday to 616.41.
ON WALLSTREET
Stock futures ticked higher Tuesday morning as investors looked ahead to key inflation data that may signal what the Federal Reserve will do at its March meeting.
Futures for the Dow Jones Industrials gained 37 points, or 0.1%, early Tuesday to 34,305.
Futures for the S&P 500 picked up 9.25 points, or 0.2%, to 4,156.25.
Futures for the NASDAQ Composite progressed 40 points, or 0.3%, to 12,580.50.
Beyond the CPI, investors will also be watching for earnings from Restaurant Brands International and Airbnb for insights into the health of the consumer. Shares of Coca-Cola rose after the company beat Wall Street expectations for fourth-quarter revenue.
Investors were largely positioning ahead of the consumer price index reading for January.
Economists polled by Dow Jones expected CPI rose 0.4% from December, and climbed 6.2% compared to the prior year. Core CPI, which excludes food and energy, is expected to rise 0.3% from the prior month and 5.5% on the year.
In Japan, the Nikkei 225 index gained 0.6%, while in Hong Kong, the Hang Seng eased back 0.2%.
Oil prices dipped $1.14 to $79.00 U.S. a barrel.
Gold prices jumped $5.40 to $1,868.90 U.S. an ounce.
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