Futures for Canada's main stock index fell on Tuesday, after crude prices tumbled and as global growth fears and concerns around aggressive U.S. Federal Reserve tightening weighed on sentiment.
The TSX Composite Index finished in the red 174.49 points to conclude Monday at 21,011.89.
June futures settled 0.3% on Tuesday.
The Canadian dollar was lower 0.09 cents to 78.43 cents U.S.
Bombardier said on Monday it would defend itself against a request for arbitration by Alstom SA related to the 2021 sale of the Canadian company's rail division.
Air Canada on Tuesday reported a smaller quarterly loss, as more passengers flew due to an easing of COVID-19 travel restrictions.
CIBC raised the target price on Fairfax Financial Holdings to $950.00 from $825.00
National Bank of Canada raised the target price on Kinaxis to $250.00 from $225.00
Eight Capital initiated coverage on Southern Energy with a buy rating and $3.00 target price
ON BAYSTREET
The TSX Venture Exchange stepped backward Monday 11.89 points, or 1.4%, to 824.74.
ON WALLSTREET
Stock futures fell slightly on Tuesday a day after a big reversal in markets gave some traders hope the April selloff was nearing an end.
Futures for the Dow Jones Industrials sank 141 points, or 0.4%, to 33,824.
Futures for the S&P 500 docked 14.5 points, or 0.3%, to 4,278,25.
Futures for the NASDAQ Composite Index dipped 52 points, or 0.4%, to 13,483.75.
Monday’s reversal was led by names like Microsoft, Alphabet and Meta Platforms, which rallied in the afternoon amid falling interest rates and ahead of an intense week of earnings for mega cap tech stocks.
Twitter also jumped after its board accepted Tesla CEO Elon Musk’s offer to take it private.
Alphabet and Microsoft were slightly higher in premarket trading Tuesday before their quarterly reports after the bell. Meta, Amazon and Apple will report later in the week.
UPS shares added more than 1% in pre-market trading after the shipper’s quarterly earnings and revenue topped expectations. The company also reaffirmed its guidance. 3M shares were marginally higher in premarket trading after first-quarter results topped expectations.
In economic data, investors are expecting fresh numbers for new home sales and consumer confidence Tuesday morning.
In Asia, the Nikkei 225 in Japan recovered 0.4% Monday, while in Hong Kong, the Hang Seng index regained 0.3%.
Oil prices grabbed 95 cents to $99.49 U.S. a barrel.
Gold prices gained $9.40 to $1,905.40 U.S.
