Futures for Canada's main stock index rose on Tuesday, tracking upbeat global sentiment after reports that some Russian troops near Ukraine were returning to their bases.
The S&P/TSX Composite lost 196.33 points to finish out Monday at 21,352.51.
The Canadian dollar edged up 0.08 cents to 78.64 cents U.S.
March futures raced 0.6% higher Tuesday.
TD Securities raised the target price on Bank of Montreal to $170 from $160
TD Securities also raised the target price Canadian Western Bank to $47.00 from $43.00
TD Securities then raised the target price on Royal Bank of Canada to $165.00 from $150.00.
Prime Minister Justin Trudeau on Monday activated rarely used emergency powers in an effort to end protests that have shut some U.S. border crossings and paralyzed parts of the capital.
On the economic slate, Canada Mortgage and Housing told us housing starts registered at 254,133 units in January, down from 261,352 units in December.
Elsewhere, the Canadian Real Estate Association was standing by with home sales figures in January.
ON BAYSTREET
The TSX Venture Exchange shed 7.36 points Monday to 861.41.
ON WALLSTREET
U.S. stock futures jumped on Tuesday morning after Russia appeared to be backing away from an immediate invasion of Ukraine, cooling geopolitical tensions that have knocked the stock market down the last three days.
Futures for the Dow Jones Industrials vaulted 416 points, or 1.2%, to 34,887.
Futures for the S&P 500 hiked 65.75 points, or 1.5%, to 4,459.75
Futures for the NASDAQ leaped 288.5 points, or 2%, to 14,541.50.
Airline and cruise stocks led early pre-market gainers while energy companies were the biggest losers as oil prices fell. American Airlines rose 4% in pre-market trading and Carnival Corp. added more than 4%.
The Russian Defense Ministry said it had begun returning some troops to deployment bases after training exercises near the Ukrainian border.
In addition to the Ukraine drama, investors will get another look at inflation Tuesday. The January producer price index, which measures final-demand wholesale prices, was to be released at 8:30 and is expected to show a monthly gain of 0.5%.
Overseas, in Japan, the Nikkei 225 skidded 0.8%, while in Hong Kong, the Hang Seng lost 0.8
Oil prices declined $2.87 to $92.59 U.S. a barrel.
Gold prices fell $16.60 to $1,852.50 U.S. an ounce.
