Canada’s benchmark stock index futures edged higher on Tuesday, tracking strength in U.S. markets ahead of the Federal Reserve chief's testimony to the Congress, though weakness in crude prices on concerns around demand from China capped gains.
The TSX subsided 66.78 points to conclude Monday at 20,514.80
March futures on the S&P/TSX index eked up 0.1% Tuesday morning.
The Canadian dollar fizzled 0.13 cents to 73.31 cents U.S.
BlackBerry reported a lower-than expected annual sales forecast and also noted that macro challenges during the reported quarter negatively impacted revenue.
Paris-listed Latecoere SA said that the aircraft equipment manufacturer would sell its electrical wiring and interconnection systems business to Bombardier.
ON BAYSTREET
The TSX Venture Exchange dropped 5.22 points Monday, to 637.76.
ON WALLSTREET
U.S. stock futures traded marginally higher on Tuesday as traders await Federal Reserve Chair Jerome Powell’s latest comments on the state of the economy.
Futures for the Dow Jones Industrials gained 10 points early Tuesday to 33,461.
Futures for the S&P 500 pushed higher 5.5 points, or 0.1%, to 4,058.
Futures for the NASDAQ Composite hiked 31 points, or 0.3%, to 12,354.50.
Dick’s Sporting Goods shares popped in premarket trading on a strong holiday quarter. WW International, also known as WeightWatchers, leapt 14% as it shared plans to acquire Sequence, a subscription telehealth platform with a focus on chronic weight management.
On deck Tuesday and Wednesday is congressional testimony from Fed Chair Powell, who will give remarks on where he sees the U.S. economy — and what he expects for interest rates to go from here.
January wholesale inventories data is set to release Tuesday after the opening bell, giving investors insight into the consumer economy. Economists polled by Dow Jones expect a decline of 0.4%, compared to a rise of 0.1% in the prior reading.
Consumer credit data expected Tuesday afternoon is forecasted to show a rise of $22 billion in January, according to consensus estimates from Dow Jones. That would follow a $11.6 billion increase the prior month.
In Japan, the Nikkei 225 index acquired 0.3%, while in Hong Kong, the Hang Seng let go of 0.3%.
Oil prices faded 42 cents to $80.04 U.S. a barrel.
Gold prices slid $10.10 to $1,844.50 U.S. an ounce.
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