Stock futures pointed to a higher opening for Canada's main stock index as oil prices rose due to tightening supply in the United States.
The S&P/TSX composite index plummeted 373.99 points, or 2.8%, to close Monday at 13,004.58
The Canadian dollar slid 0.03 cents at 74.63 cents U.S. early Tuesday
China's commerce ministry has fined Bombardier and a unit of local trainmaker CRRC Corp 150,000 yuan ($23,572) each for setting up a joint venture before obtaining prior government approval.
Bombardier and CSR Nanjing Puzhen agreed to invest 125 million yuan each in November 2014 to set up the joint venture but only notified regulators in December, violating the anti-monopoly law, the Ministry of Commerce's anti-monopoly bureau said in a statement.
MDC Partners Inc. reports that the proxy solicitation firm Kingsdale Shareholder Services still plans to expand in the United States after merger and acquisition talks with rivals there failed to produce a deal, its top executive said on Monday.
Pacific Exploration and Production said its lenders agreed to waive off a covenant that requires it to maintain above $1 billion in net worth, amid a slump in oil prices. The waivers are effective for about $1.43 billion in debt facility and will terminate on Dec. 28, the company said on Tuesday.
Canaccord Genuity raised the target price on DHX Media to $12.00 from $11.50 to reflect the company’s fourth-quarter beats and strong revenue guidance for 2016.
The economic calendar today features Statistics Canada’s industrial product price index, which came in lower by 0.3% for August, due mostly to lower prices for energy and petroleum products. The agency’s raw materials price index declined 6.6% in the same month, led by lower prices for crude energy products.
ON BAYSTREET
The TSX Venture Exchange slid 14.72 points Monday to 526.78
ON WALLSTREET
U.S. stock futures are inching higher Tuesday, but global market sentiment remains cautious due to concerns about economic growth.
Ahead of the opening bell, futures for the Dow Jones Industrials climbed 34 points, or 0.2%, to 15,943, futures for the S&P 500 inched up 4.75 points, or 0.3%, to 1,876.75, and futures for the NASDAQ gained 9.5 points, or 0.2%, to 4,104.25.
Top worries include slowing growth in China, uncertainty over when the Federal Reserve will begin raising U.S. interest rates, depressed commodity prices and concerns over the pace of economic recovery in both Japan and Europe.
Shares in Yahoo are up nearly 3% in extended trading after the company revealed plans to go ahead with its Alibaba spinoff regardless of whether the IRS approves the plan.
Shares in Tesla could be on the move Tuesday as the company is set to begin deliveries of its new Tesla SUV, dubbed the Model X.
Shares in Glencore are rebounding -- up about 9% in London -- after falling by 29% Monday. The mining and trading conglomerate has been crushed by falling prices for commodities and fears that China's slowdown will make matters even worse.
The latest Case-Shiller housing price index comes out at 9 a.m. ET, giving a snapshot of the health of the U.S. housing market.
Then the Conference Board will update its Consumer Confidence Index with a September figure at 10 a.m. ET.
Costco and Diamond Foods are reporting quarterly earnings after the market closes.
European markets were mixed, and most Asian indexes skidded lower, led by a 4% plunge on Japan's Nikkei.
Oil prices gained 73 cents to $45.18 U.S. a barrel
Gold prices shed $2.30 to $1,129.65 U.S. an ounce.
