Futures for Canada's main stock index dropped on Tuesday as crude and gold prices fell on chances for further interest rates hike, while caution remained as the earnings-heavy week sets in.
The TSX lost 16.41 points to end Monday at 20,676.74.
June futures on the S&P/TSX index sank 0.4% on Tuesday morning.
The Canadian dollar dropped 0.35 cents to 73.54 cents U.S.
In company news, Canadian National Railway reported quarterly adjusted earnings of $1.82 per share, beating analysts' average estimate of $1.72 per share.
National Bank of Canada upgraded energy company Pason Systems to "outperform" from "sector perform."
ON BAYSTREET
The TSX Venture Exchange decreased 4.02 points Monday to 610.18.
ON WALLSTREET
U.S. stock futures slipped Tuesday as traders assessed the latest quarterly figures from several major companies.
Futures for the Dow Jones Industrials removed 93 points, or 0.3%, at 33,908.
Futures for the S&P 500 fell 17.75 points, or 0.5%, to 4,141.75.
Futures for the NASDAQ Composite subsided 47 points, or 0.4%, to 13,009.50.
Shares of First Republic Bank slid more than 20% after the regional bank posted its latest quarterly results. The bank said late Monday that deposits dropped 40% to $104.5 billion in the first quarter but have since stabilized.
First Republic will also be trimming expenses, including slashing headcount by 20% to 25% in the second quarter. The regional bank has been closely followed after investors grew concerned it could face the same fate as Silicon Valley Bank and Signature Bank, whose closures set off an industry crisis last month. First Republic shares have fallen more than 86% so far this year.
UPS dropped almost 5% on the back of quarterly results that missed expectations. PepsiCo, General Motors and McDonald’s, meanwhile, were up slightly on better-than-expected numbers.
Amazon and Microsoft are slated to report Tuesday, the first of multiple Big Tech names scheduled for this week.
Investors on Tuesday will get a gauge on the state of the housing prices through the new home sales numbers in March, as well as the S&P/Case-Shiller 20-city home price index data for February. Consumer confidence data for April will also be released.
In Japan, the Nikkei 225 nosed up 0.1% Tuesday, while in Hong Kong, the Hang Seng was hammered 1.7%.
Oil prices plunged 58 cents to $78.18 U.S. a barrel.
Gold prices handed over $10.70 to $1,989.10 U.S. an ounce.
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