Futures Again in Plus Territory

AutoCanada, Toromont in Focus

Futures for Canada's main stock index gained on Tuesday, boosted by stronger oil prices as robust economic data from China and the United States raised hopes of a faster pace of economic recovery.

The TSX gained 36.47 points to top Thursday’s all-time high, and close Monday at 19,026.79.

The Canadian dollar slid 0.31 cents at 79.56 cents U.S.

June futures gained 0.1% Tuesday.

CIBC raised the price target on AutoCanada to $37.00 from $34.00

Citigroup cut the price target Precision Drilling to $30.00 from $33.00

Scotiabank upped the rating on Toromont Industries to outperform from sector perform

ON BAYSTREET

The TSX Venture Exchange advanced 0.41 points Monday to 961.25.

ON WALLSTREET

Stock futures dipped in early trading Tuesday after the Dow Jones Industrial Average and the S&P 500 both closed at record highs in the prior session as strong economic data boosted hopes of a smooth recovery.

Futures for the 30-stock Dow dipped 27 points, or 0.1%, to 33,388.

Futures for the S&P 500 stumbled 3.75 points or 0.1%, to 4,064.

Futures for the NASDAQ Composite index fell 1.5 points to 13,584 Tuesday.

Some Big Tech stocks such as Amazon, Microsoft and Nvidia were seeing slight losses in pre-market trading.

Investors continue to assess President Joe Biden’s $2-trillion infrastructure proposal announced last week and its chance to become reality.

While politicians on both sides of the aisle support funding to rebuild American roads and bridges, disagreements over the ultimate size of the bill and how to pay for it remain, including Biden’s plan to raise the corporate tax to 28%.

Biden said Monday he is not worried that a corporate tax hike would hurt the economy. Conservative Democrat Sen. Joe Manchin of West Virginia reportedly said he opposes the proposed tax hike to a level that high.

Overseas, in Japan, the Nikkei 225 tumbled 1.3% Tuesday, while in Hong Kong, the Hang Seng index remained closed for holiday.

Oil prices improved 91 cents to $59.56 U.S. a barrel.

Gold prices brightened $8.80 to $1,737.60 U.S.