Futures for Canada's main stock index rose on Tuesday, tracking a rebound in global crude prices on concerns around supply disruptions but a stumble in bullion limited the gains.
The S&P/TSX Composite Index handed back 28.11 points to end Monday at 21,977.83.
June futures jumped 0.5% Tuesday.
The Canadian dollar leaped 0.27 cents to 80.13 cents U.S.
A unit of Brookfield Asset Management Inc and fund manager Morrison & Co matched a Macquarie-led consortium's rival offer of A$5-a-piece for Australian telecom firm Uniti Group on Tuesday.
RBC initiated coverage on Greenfirst Forest Products with an outperform rating and $3.00 price target.
RBC initiated coverage on Petroshale with a sector perform rating and $1.00 price target
National Bank of Canada cut the target price on Taiga Motors to $12.00 from $16.00.
Tuesday’s macroeconomic numbers have to do with payroll figures. Statistics Canada said the number of employees receiving pay or benefits from their employer—measured by the Survey of Employment, Payrolls and Hours as payroll employment—was little changed in January.
ON BAYSTREET
The TSX Venture Exchange was 8.53 points in the red to 877.79.
ON WALLSTREET
Stock futures rose Tuesday morning, putting the major averages on track to build on the previous session’s gains.
Futures for the Dow Jones Industrials hiked 215 points, or 0.6%, to 35,068.
Futures for the S&P 500 was positive 28.75 points, or 0.6%, to 4,596.75.
Futures for the NASDAQ Composite Index zoomed 115.5 points, or 0.8%, to 15,100.75.
In corporate news, shares of FedEx rose more than 2% in premarket trading after the company announced that founder Fred Smith would step down as CEO on June 1 and be replaced internally.
Health care giant UnitedHealth Group announced a deal to buy LHC Group for $170 per share, sending the smaller company’s stock up 7%.
Consumer confidence and home price data to be released Tuesday, ahead of Friday’s monthly jobs report. Economists expect to see 460,000 jobs added in March and the unemployment rate to fall to 3.7%, according to Dow Jones estimates.
Growing hope for a Russia-Ukraine ceasefire appeared to help investor sentiment on Tuesday morning. The price of U.S. benchmark West Texas Intermediate crude, which spiked during the invasion, fell more than 4% to $100 per barrel.
In Asia, the Nikkei 225 in Japan gained 1.1%, while in Hong Kong, the Hang Seng index also gained 1.1%.
Oil prices stumbled $4.29 to $101.69 U.S. a barrel.
Gold prices sagged $33.80 to $1,910.30 U.S.
