Futures tied to Canada's resource-heavy main stock index climbed on Tuesday as metal prices gained following China's pledge to step up policy support for its economy, while investors looked forward to more earnings this week.
The TSX held onto gains of 34.61 points by the closing bell Monday to 20,582.12.
September futures gained 0.2% Tuesday.
The Canadian dollar removed 0.02 cents to 75.88 cents U.S.
Canadian earnings season would pick up pace this week, with railroad operator Canadian National Railway, telecom firm Rogers Communications and mining firm Teck Resources among the major companies reporting quarterly results during the period.
CIBC downgraded TC Energy to "neutral" from "outperformer".
ON BAYSTREET
The TSX Venture Exchange lost 4.67 points Monday to finish at 611.99.
ON WALLSTREET
U.S. stock futures were little changed Tuesday after the Dow Jones Industrial Average registered its longest winning streak since February 2017.
Futures for the 30-stock index crept up nine points to 35,590.
Futures for the S&P 500 eked up four points to 4,587.50.
Futures for the NASDAQ vaulted 45.75 points, or 0.3%, to 15,607.
General Motors shares rose more than 1% after the automaker hiked its full-year earnings guidance. General Electric also climbed 4% on the back of stronger-than-expected revenue for the second quarter.
Mega-cap tech names Alphabet and Microsoft are scheduled to announce their quarterly results after the close. Wall Street will also look at July’s consumer confidence data.
While a stronger-than-expected earnings season has helped maintain the market rally, Wall Street is also carefully awaiting the Federal Reserve’s policy decision on Wednesday. Fed fund futures data shows a 98% probability of a quarter-point hike. Investors are waiting for Chair Jerome Powell’s statements on his outlook for the economy as it tackles inflation.
In Japan, the Nikkei 225 fell back 0.1%. while in Hong Kong, the Hang Seng raced ahead 4.1%.
Oil prices dipped 0.02 cents to $78.72 U.S. a barrel.
Gold prices slipped $1.30 to $1,960.80. U.S. an ounce.
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