Futures for Canada's main stock index slipped on Tuesday as investors refrained from making big bets ahead of the U.S. Federal Reserve's policy decision, while also awaiting cues on earnings recovery from corporate Canada.
The TSX climbed 68.23 points to end Monday at 19,170.56.
The Canadian dollar doffed 0.04 cents Tuesday to 80.63 cents U.S.
June futures were down 0.1% Tuesday.
Canadian National Railway on Monday raised its annual forecasts for profit and volume growth, hoping that vaccine rollouts would accelerate an economic recovery and boost shipments for the country's biggest railroad operator.
The federal government said on Monday it backed the use of Johnson &
Johnson's Janssen COVID-19 vaccine despite reports of rare blood clots, noting the issue had first been identified in doses made by AstraZeneca Plc.
Haywood Securities raises the rating on Altura Energy to "buy" from "hold"
National Bank of Canada resumed analysis on Dream Industrial REIT with an "outperform" rating
ON BAYSTREET
The TSX Venture Exchange added 12.76 points, or 1.4%, Monday to 943.39.
ON WALLSTREET
Stock futures were flat on Tuesday as investors braced for a big batch of tech earnings.
Futures for the Dow Jones Industrials edged up 15 points to 33,892.
Futures for the S&P 500 added 4.75 points, or 0.1%, to 4,184.25.
Futures for the NASDAQ Composite index jumped 18.75 points, or 0.1%, to 14,030.25.
The S&P 500 edged higher to close at another record on Monday, while the tech-heavy NASDAQ Composite climbed 0.9% to hit its first fresh record close since Feb. 12.
Shares of Tesla fell 3% in pre-market trading even after the electric carmaker posted record net income of $438 million. Tesla also beat Wall Street’s earnings and revenue expectations handily, boosted by sales of bitcoin and regulatory credits.
The shares have struggled this year, off by more than 18% from their record, though the stock is still up 360% over the last 12 months.
UPS shares soared 8% after earnings blew past Wall Street estimates. The company said first quarter revenue was up 27%.
The first-quarter earnings season kicks into high gear on Tuesday with key tech companies such as Alphabet, Microsoft and AMD reporting after the bell.
GameStop’s stock jumped more than 8% in pre-market trading after the video game retailer said it sold 3.5 million additional shares, raising $551 million to speed up the company’s e-commerce transformation.
Apple and Facebook earnings follow on Wednesday after the bell.
The Federal Reserve kicks off its two-day policy meeting on Tuesday. The central bank is not expected to take any action, but economists expect it to defend its policy to let inflation run hot.
One of the latest surveys sees the central bank staying on hold and keeping its asset buying program in place at the same levels for the rest of 2021, despite growing concerns about an overheating economy.
Overseas, in Japan, the Nikkei 225 lost 0.5% early Tuesday, while in Hong Kong, the Hang Seng index shed more than 11 points.
Oil prices grew 48 cents to $62.39 U.S. a barrel.
Gold prices increased $2.70 to $1,782.80 U.S.
