Equity markets in Toronto looked set to open lower on Tuesday after climbing to its highest level in nearly three years in the previous session.
The S&P/TSX composite index was up 21.36 points to finish Monday at 14,227.08
The Canadian dollar dipped 0.12 cents U.S. early Tuesday to 90.28 cents U.S.
Bank of Montreal said its quarterly profit rose 2% as stronger Canadian retail banking income and lower loan loss provisions more than made up for a weaker performance at its U.S. division.
National Bank of Canada said on Monday its first-quarter profit rose 9%, driven by stronger wealth management and financial markets income.
BlackBerry Ltd plans to launch a new tool for business and government customers to manage mobile devices on their networks, part of a drive by the one-time smartphone pioneer to focus on its profitable enterprise or services business.
Rogers Communications was ordered to pay $500,000 by an Ontario court that said the company did not conduct adequate tests to back up a claim that its Chatr discount brand had better coverage than rivals.
Canadian regulators said on Monday that an audit of TransCanada Corporation’s safety practices found it operated safely for the most part, but identified some key areas where it needs to improve.
ON BAYSTREET
The TSX Venture Exchange backtracked 2.71 points Tuesday to 1,018.95.
ON WALLSTREET
U.S. markets are sitting near record-setting levels, but investors seem reluctant to push on into uncharted territory.
Ahead of the opening bell, futures for the Dow Jones Industrials fell 30 points, or 0.2%, to 16,156. Futures for the S&P 500 moved backward 3.8 points, or 0.2%, to 1,842.10, and futures for the NASDAQ dipped five points, or 0.1%, at 3,683.
In corporate news, Macy's will release earnings before the open. T-Mobile shares dropped because of the telecom's widening quarterly loss, despite strong revenue and the addition of more customers.
Home Depot shares gained after the retailer said that a recovering housing market drove an increase in quarterly sales.
Shares in BlackBerry could also get a lift when the opening bell rings. There is a report that the company's technology could be used in Ford cars to connect vehicles to drivers' smartphones.
The firearms company Sturm Ruger is set to report results after the close.
Solar City shares slid after the closing bell Monday when the company postponed its earnings results until March 3, citing "accounting related to recent acquisitions." It was slated to report Tuesday evening.
Today, investors will get to review new home price data from the Case-Shiller index this morning and the U.S. Conference Board will release its monthly consumer confidence measure.
European markets were declining in midday trading.
Asian markets posted mixed results. The Shanghai composite tumbled 2% while the Nikkei 225 in Japan advanced 1.4%.
Oil prices erased $1.44 to $101.38 U.S. a barrel
Gold prices lost two dollars to $1,336.00 U.S. an ounce.
