Futures for Canada's main stock index were subdued on Tuesday ahead of earnings updates from Big Tech companies in the United States, domestic GDP data and the Federal Reserve's interest rate decision later this week.
The TSX Composite added 81.25 points to close Monday at 21,206.53, a new 20-month high, helped by gains in the technology and utilities sectors.
March futures were down 0.2% Tuesday.
The Canadian dollar deducted 0.08 to 74.49 cents U.S.
Among domestic stocks, Metro and freight railroad operator Canadian Pacific Railway are slated to report their quarterly earnings later in the day.
Lundin Mining Corp said its fourth-quarter revenue was expected to be negatively impacted by lower metal prices.
Electronics company Celestica reported fourth-quarter results that beat analysts' estimates.
ON BAYSTREET
The TSX Venture Exchange gained 3.13 points to end Monday at 553.99.
ON WALLSTREET
Stock futures dipped Tuesday morning as investors analyzed the latest corporate earnings with the Federal Reserve policy meeting on the horizon. Traders also awaited results from major tech companies.
Futures for the Dow Jones Industrials index dropped 79 points, or 0.2%, to 38,409.
Futures for the S&P 500 slipped 10.25 points, or 0.2%, at 4,944.25.
Futures for the NASDAQ faltered 38 points, or 0.2%, to 17,668.
General Motors shares popped 7% after the automaker posted better-than-expected earnings. Cybersecurity stock F5 rallied 10% on the back of a better-than-expected financial report, while electronics manufacturer Sanmina soared more than 18% after posting strong earnings per share and current-quarter guidance.
Elsewhere, home-appliances maker Whirlpool shed more than 4% after sharing a worse-than-expected outlook for the full year. JetBlue was also down more than 3% even after disclosing better-than-expected results.
Those reports come ahead of major tech reports slated for the afternoon, including Microsoft and Alphabet. These companies, which are part of a group known as the “Magnificent 7,” have been closely watched by market participants after driving up the S&P 500 with their outsized gains.
Amazon, Meta and Apple will post their quarterly financials later in the week.
Traders will watch for updates out of the Federal Open Market Committee’s two-day policy meeting beginning Tuesday. The fed funds futures market has priced in an approximately 97% probability that the central bank will leave rates unchanged during its Wednesday announcement.
In Japan, the Nikkei 225 poked higher 0.1% Tuesday, while in Hong Kong, the Hang Seng Index fell 2.3%.
Oil prices fell 59 cents to $76.19 U.S. a barrel.
Gold prices improved $7.70 to $2,052.30 U.S. an ounce.
