Futures Spring

Forestry Companies in Vogue

Futures tracking Canada's main stock index jumped on Tuesday, in line with a solid European and Asian trading session, as a pause in bond yields increased appetite for riskier equities after last quarter's selloff on recession fears.

The TSX Composite screamed higher 436.97 points, or 2.4%, to conclude Monday at 18,881.19.
December futures spiked 1.7%.

The Canadian dollar backtracked 0.14 cents to 73.23 cents U.S.

CIBC cut ratings for a number of forest product companies to neutral from outperform. Interfor, Canfor, West Fraser Timber went through the rating slash.

Raymond James upgraded Dream Residential Real Estate Investment Trust to outperform from market
perform.

ON BAYSTREET

The TSX Venture Exchange popped 7.93 points, or 1.3% Monday, to 602.06.

ON WALLSTREET

Stock futures surged Tuesday as Wall Street aimed to build on a sharp rally seen in the previous session.

Futures the 30-stock index soared 381 points, or 1.3%, to 29,919.

Futures for the S&P 500 jumped 57 points, or 1.5%, to 3,747.25.

Futures for the NASDAQ Composite vaulted 213.25 points, or 1.9%, to 11,499.

Monday brought a respite from slides seen throughout September and the prior quarter. The Dow jumped nearly 2.7%, or about 765 points. It was its best day since June 24.

The S&P 500 advanced about 2.6% in its best day since July 27. The Nasdaq Composite increased roughly 2.3%.

Shares of Credit Suisse rose 4% in Tuesday pre-market trading after falling as much as 10% the prior day.

The stock tumbled on Monday, before rebounding to close down nearly flat, after a Financial Times report said Credit Suisse executives are reassuring major investors on the financial health of the Swiss bank. Shares are down roughly 60% this year.

Investors will watch for new data Tuesday from the Job Openings and Labor Turnover Survey administered by the Bureau of Labor Statistics.

In Japan, the Nikkei 225 rocketed 3%, while in Hong Kong, the Hang Seng was closed for holiday.

Oil prices took on $1.15 to $84.78 U.S. a barrel.

Gold prices advanced $14.90 to $1,716.90 U.S. an ounce.