Canada's main stock index looked set to open lower on Tuesday after ending its lowest in more than two weeks in the previous session, as investors paused on uncertainty surrounding the U.S. Federal Reserve's bond-buying program coupled with weak U.S. and euro-zone data.
The S&P/TSX Composite Index subsided 40.62 points to end Monday at 12,609.80. Futures traded down about 0.1%
The Canadian dollar fell 0.29 cents to 97 cents U.S. early Tuesday.
Rio Alto Mining Ltd said it has temporarily suspended some operations at its La Arena gold mine in Peru after a blockade of the main road to the site as part of a protest against the country's police and judicial system.
Canaccord Genuity raised the price target on Autocanada Inc to $31.50 from $29 on the completion of a bought deal and secondary share offering and on the announcement of the acquisition of Courtesy Chrysler.
CIBC cut the target price on Platinum Group Metals to $1.85 from $1.90 citing production cuts and weak currency.
Speaking of things economic, Statistics Canada reported this morning that our merchandise imports rose 1.2% in April, while exports edged down 0.2%. As a result, Canada's trade deficit with the world went from $3 million in March to $567 million in April.
ON BAYSTREET
The TSX Venture Exchange improved 6.65 points to finish Monday at 969.06
ON WALLSTREET
If the Dow Jones industrial average manages even a small gain, this will be the 21st Tuesday in a row it will have ended in positive territory.
Futures for the Dow Industrials gained 13 points, or 0.1%, to 15,230. Futures for the S&P 500 picked up 2.4 points, or 0.2%, to 1,638.60, and futures for the NASDAQ improved 2.75 points, or 0.1%, to 2,988.25
Salesforce.com shares rose 1% after the company signed a deal to acquire cloud marketing platform ExactTarget for $2.5 billion U.S.
General Motors shares rose about 3% following news that the automaker will rejoin the S&P 500, replacing H.J. Heinz at the end of trading Thursday.
Zynga shares bounced back, following a 12% plunge on Monday, after the online game maker said it would cut more than 500 jobs, or nearly 20% of its staff.
Dollar General reported earnings and sales in line with forecasts but lowered its guidance.
Investors are awaiting Census Bureau data on the trade deficit this morning, but there are few other corporate or economic reports to sway sentiment either way. A consensus of economists surveyed by Briefing.com expects the trade deficit to have widened to $41 billion in April from $38.8 billion U.S. the prior month.
European markets were all in positive territory in morning trading, rebounding from a weak Monday session.
Japan's Nikkei 225 closed with a 2.1% gain based on a weakening yen and speculation that government officials will soon urge pension funds to increase their equity holdings.
Meanwhile, Hong Kong's Hang Seng was flat at the close and the Shanghai Composite Index declined by 1.2%.
Oil prices faded 30 cents to $93.15 U.S. a barrel
Gold prices dipped $15.30 to $1,396.60 U.S.
