Markets in Toronto pointed to a flat open on Tuesday after weaker-than-expected U.S. economic data raised worries about a slowdown in the country's largest trading partner.
The S&P/TSX composite index dumped 208.74 points, or 1.5%, to conclude a gloomy Monday at 13,486.20, with futures up about 0.1%
The Canadian dollar gained 0.34 cents U.S. early Tuesday to 90.31 cents U.S.
WestJet Airlines Ltd reported an 11% rise in fourth-quarter profit as costs fell, and the company raised its dividend.
Suncor Energy Inc said on Monday it swung to a fourth-quarter profit of $443 million as crude output from northern Alberta oil sands hit record highs.
Silver Standard Resources said it will buy the Marigold mine in Nevada for $275 million in cash from joint owners Goldcorp Inc and Barrick Gold in a deal that would provide the Canadian miner more exposure to gold.
ON BAYSTREET
The TSX Venture Exchange jettisoned 10.55 points to close Monday at 940.77
ON WALLSTREET
Stocks have had a year to forget so far but U.S. markets may be due a bounce Tuesday.
Ahead of the opening bell Monday, futures for the Dow Jones Industrials took on 35 points, or 0.2%, to 15,327. Futures for the S&P 500 regained 8.1 points, or 0.5%, to 1,740.90, and futures for the NASDAQ perked 11 points, or 0.3%, to 3,441.
On the corporate side, BP shares declined after the oil and gas firm reported a drop in fourth-quarter earnings.
Shares of UBS jumped after the Swiss bank reported better-than-expected quarterly earnings.
ARM Holdings said its fourth-quarter earnings disappointed some investors, sending shares lower in early trading.
Shares of KFC-owner Yum! Brands jumped after it reported better-than-expected earnings.
And Michael Kors was a standout. The retailer's stock rallied nearly 13% in premarket trading after a stellar earnings report and upbeat outlook.
Meanwhile, world markets suffered another battering Tuesday, taking their cue from Monday's sharp selloff in U.S. stocks.
Japan's Nikkei 225 index fell 4.2%, extending its losses this year to just over 14%. The slide has put the index well into correction territory, and erased a chunk of last year's stunning 57% gain. Hong Kong's Hang Seng also pushed into a correction, dropping nearly 3%.
Oil prices added 12 cents to $96.55 U.S. a barrel
Gold prices faded $6.80 to $1,253.10 U.S. an ounce.
