Futures pointed to a distinctly lower opening for equities in North America on Tuesday as most commodities, including gold and crude oil, continued to struggle with the strength of the U.S. dollar.
The S&P/TSX composite index tumbled 98.01 points to finish trading Monday at 14,854.49, its lowest level in five weeks. March futures faltered 0.7% Tuesday.
The Canadian dollar faded 0.27 cents to 79.08 cents U.S. early Tuesday.
Paradigm raised the target price on Com Dev International to $8.50 from $7.00
Jefferies raised the rating on Goldcorp Inc. to hold
National Bank Financial raised the target price on Tourmaline Oil to $50.00 from $47.50
ON BAYSTREET
The TSX Venture Exchange lost 8.07 points Monday to 680.72
ON WALLSTREET
U.S. stock futures are moving down, alongside a slide in European markets. Most Asian stock markets ended with modest losses.
Ahead of the opening bell, futures for the Dow Jones Industrials tumbled 173 points, or 1%, to 17,797. Futures for the S&P 500 dipped 20.25 points, or 1%, to 2,057.50, and futures for the NASDAQ fell 39 points, or 0.9%, to 4,374.50.
Shares in Qualcomm are rising by about 4% pre-market after the high-tech chip maker announced a massive share buyback program worth at least $10 billion U.S. Plus, the company is also hiking its dividend by 14%.
Urban Outfitter shares were moving higher in extended trading after the retailer reported better-than-expected quarterly results. Sales topped $1 billion U.S. for the first time.
Barnes and Noble is reporting ahead of the open. Weibo will report after the close.
Official data shows consumer prices in China rose by 1.4% last month, recovering from a five-year low in January. However, the jump in inflation is generally being attributed to the shift in timing of the Chinese New Year.
Oil prices moved downward 23 cents to $49.77 U.S. a barrel
Gold prices lost $2.90 to $1,163.60 U.S. an ounce.
