Equity markets in Toronto looked to open higher on Tuesday in an abbreviated session that promises to be quiet, with many investors out already for the Christmas holiday break.
The S&P/TSX composite index tacked on 48.10 points to close Monday at 13,447.70, with Tuesday futures up 0.08%.
The Canadian dollar added 0.02 cents to 94.27 cents U.S. early Tuesday
The Toronto exchange will close at 1 p.m. ET and will stay closed on Wednesday and Thursday for the Christmas and Boxing Day holidays.
CIBC cuts price target on Detour Gold to $10.50 from $12 following the frequent shutdown of its mill due to mechanical issues that may affect its firs-quarter production
ON BAYSTREET
The TSX Venture Exchange gained 8.80 points Monday to 896.98
ON WALLSTREET
Investors and traders prepared for the upcoming Christmas break and a shortened trading session, and indices didn’t move much.
Stock markets in New York will close at 1 p.m. ET Tuesday, and markets will remain closed Wednesday for Christmas Day.
Ahead of the opening bell, futures for the Dow Jones Industrials inched up two points to 16,240. Futures for the S&P 500 dipped 0.6 points to 1,822.20, and futures for the NASDAQ fell 1.25 points to 3,563.50.
While Tuesday is expected to be a tame trading day, markets have certainly made big moves so far this year, with the Dow Jones industrial average and S&P 500 both climbing 0.5% to new records Monday, while the NASDAQ jumped more than 1% to a fresh 13-year high.
Investors have been feeling increasingly confident about the state of the U.S. economy, helping the main indexes surge by well over 20% throughout 2013.
The Dow has pushed ahead by 24% this year, the S&P has advanced by 28% and the NASDAQ has rallied by 37%.
In European markets, the major indexes were moving higher throughout the morning. Trading in London and Paris is set to close early. Markets in Frankfurt were closed.
In Asia, markets were mixed.
The U.S. Census Bureau is releasing its latest report on durable goods orders this morning and will also release data on new home sales for November.
Oil prices gained 14 cents to $99.05 U.S. a barrel
Gold prices gained $3.10 at $1,200.10 U.S. an ounce.
