Canada's main stock index looked set to open higher as euro-zone manufacturing data came in slightly better than a preliminary estimate, raising hopes for the region's recovery.
The S&P/TSX index gave back 54.76 points to end Monday at 12,695.14. Canada stock futures traded up 0.4%
The Canadian dollar took on 0.31 cents to 98.68 cents U.S. early Tuesday.
Rating agency NBF cut the price target for Alterra Power Corporation to 50 cents from 70 cents as the company missed expectations in its fourth quarter due to lower production.
SocGen raised target price on BlackBerry to $13 from $8.40, says the launch of the Z10 has gone much better than expected and there should be opportunity for volumes to grow again in the first quarter of 2014.
ON BAYSTREET
The TSX Venture Exchange docked 9.44 points Monday to 1,089.56
ON WALLSTREET
Tuesday is poised to be another day of gains in U.S. markets, with futures pointing to a positive opening for stocks.
But with little on the corporate or economic docket, trading could be relatively quiet.
Futures for the Dow Industrials gained 59 points, or 0.7%, to 14,548. Futures for the S&P 500 picked up seven points, or 0.5%, to 1,562.90, and futures for the NASDAQ moved higher 19.25 points, or 0.7%, to 2,807.25.
Even with a slight retreat Monday, all three major indexes are still up between 7% and 11% for the year.
Major automakers, including Ford and GM are also set to release their monthly sales figures Tuesday. Forecasts are for another strong month of sales, with some experts anticipating the best sales month in five years.
Shares of health-care firms including Humana, United Healthand Aetna rose in after-hours trading Monday after the government announced a 3.3% increase in Medicare Advantage rates for next year, rather than the 2.3% cut that had been floated previously. While Aetna shares were not yet trading pre-market, shares of Humana and United Health were both higher ahead of the open Tuesday.
Hewlett-Packard shares slid nearly 3% in pre-market trading after Goldman Sachs downgraded the firm to "sell."
European markets rose slightly in morning trading, while Asian markets ended mixed. The Hang Seng added 0.3% while the Nikkei dropped 1.1% and the Shanghai Composite lost 0.3%.
Economically speaking, the Census Bureau will this morning publish data on factory orders for February, following an underwhelming report on U.S. manufacturing Monday.
Oil prices registered at $97.17 U.S. a barrel
Gold prices came in at $1,596.70 U.S.
