Stock futures pointed to a higher opening for Canada's main stock index on Tuesday as oil prices touched four-year highs.
The S&P/TSX Composite Index surrendered 16.81 points to end Monday at 16,207.32.
The Canadian dollar ducked back 0.04 cents to 77.18 cents U.S. early Tuesday
December futures progressed 0.3% Tuesday
As the month-end deadline for North American trade talks nears, Canadian executives who hedge foreign exchange risk have been changing their strategies so their companies can profit from any possible swings in the Canadian dollar.
Canaccord Genuity raised the price target on North American Construction Group to $14.00 from $11.00
Canaccord Genuity cut the target price on Onex Corp. to $108.00 from $111.00
ON BAYSTREET
The TSX Venture Exchange let go of 5.69 Monday to 714.22
ON WALLSTREET
U.S. stock index futures rose on Tuesday as bank shares got a lift from higher interest rates.
Futures for the Dow Jones Industrials hiked 84 points, or 0.3%, to 26,694
S&P 500 futures added seven points, or 0.2%, to 2,932.50, while futures for the NASDAQ composite jumped 12.25 points, or 0.2%, to 7,598.25
Shares of Bank of America rose 0.7% before the bell, while J.P. Morgan Chase and Citigroup both gained about 0.5%.
Bank stocks gained as the 10-year Treasury note yield climbed to 3.11%, near its highest level of the year. The rise in yields comes as the Federal Reserve begins its two-day monetary policy gathering today, with analysts expecting the U.S. Federal Reserve to announce a quarter-point rate hike when it concludes its meeting tomorrow.
Equities were also pressured by the cancellation of trade talks between the U.S. and China as tensions between the largest world economies continue to simmer.
China's Vice Commerce Minister Wang Shouwen said Tuesday that it was tough to proceed with trade negotiations at present and that it would be dependent on the "will" of the United States as to when talks would resume.
Overseas, in Japan, the Nikkei 225 poked ahead 0.3% Tuesday, while in Hong Kong, markets were shuttered for holiday
Oil prices gained 29 cents at $72.37 U.S. a barrel.
Gold prices grew $1.50 to $1,205.90 U.S. an ounce.
