Futures for Canada's main stock index edged lower on Tuesday as oil and metal prices slipped on mounting worries over a global economic downturn.
The S&P/TSX was positive 167.5 points to close Monday at 19,028.86.
September futures slid 0.4% Tuesday.
The Canadian dollar crumbled 0.59 cents to 77.18 cents U.S.
Canadian National Railway said a strike by unionized signals and communications workers would end on Tuesday after the company and the International Brotherhood of Electrical Workers agreed to binding arbitration.
TD Securities cut the rating on Bolarex to buy from action list buy.
H.C. Wainwright initiated coverage on Sernova Corp. with a “buy" rating and a target price of $6.00
Cowen and Company cut the target price on Aurora Cannabis to $1.85 from $4.00
On the macroeconomic slate, the value of building permits rose 2.3% in May to $12.1 billion, according to Statistics Canada. The agency goes on to say non-residential sector increased 7.0% to $4.3 billion, while the residential sector edged down 0.1% to $7.8 billion.
The Canadian embassy in Beijing says Chinese authorities have blocked Canadian government representatives from attending the trial of Chinese-Canadian billionaire Xiao Jianhua, five years after Xiao vanished from Hong Kong during an anti-corruption crackdown.
ON BAYSTREET
The TSX Venture Exchange slid 9.08 points, or 1.5%, to 617.26.
ON WALLSTREET
Stock futures were lower early on Tuesday morning after the major averages finished another losing week.
Futures for the Dow Jones Industrials plunged 225 points, or 0.7%, early Tuesday to 30,836.
Futures for the S&P 500 dropped 31.25 points, or 0.8%, to 3,796.
Futures for the NASDAQ Composite index stumbled 119.50 points, or 1%, to 11,491.75.
U.S. markets were closed Monday for the 4th of July.
Concerns about economic growth are hanging over investors as the U.S. market looks to recover after a rough first half to the year.
U.S. Treasury Secretary Janet Yellen and China’s Vice Premier Liu He held a virtual call on Monday stateside to discuss macroeconomic issues.
Markets finished one of the worst halves in decades on Thursday, and major averages posted their fourth week of losses in five despite modest gains during Friday’s trading session.
In this shortened holiday week, investors are looking ahead to the release of June jobs report data on Friday. According to Dow Jones estimates, job growth likely slowed in June with 250,000 nonfarm payrolls added, down from 390,000 in May. Economists surveyed expect the unemployment rate to hold at 3.6%.
This week’s economic calendar also includes Wednesday’s release of minutes from the Federal Reserve’s latest meeting. May factory orders are expected for Tuesday, with earnings from WD-40 and Levi Strauss scheduled for Friday.
In Japan, the Nikkei 225 gained 1% Tuesday. In Hong Kong, the Hang Seng inched 0.1%
Oil prices sank 18 cents to $10.8.25 U.S. a barrel.
Gold prices gave back $3.30 to $1,798.20 U.S. an ounce.
