Stock futures pointed to a lower opening for Canada's main stock index as oil prices slipped on worries over a supply glut and with U.S. inventory data expected to show another increase in crude stocks.
The S&P/TSX composite index erased 162.76 points, or 1.2%, to close Monday at 13,790.90
The Canadian dollar faded 0.15 cents to 75.85 cents U.S. early Tuesday
Restaurant Brands International, the company formed last year out of Burger King's takeover of Canadian coffee chain Tim Hortons, said third -quarter profit soared from the preceding quarter, helped by new restaurants and lower costs.
Net profit attributable to shareholders rose to $49.6 million, or 24 cents per share, from $9.6 million, or five cents per share, in the second quarter. Revenue fell 2% to $1.02 billion in the three months ended Sept. 30.
Short interest in U.S.- traded shares of Valeant Pharmaceuticals International stood at its highest in nearly a year in the first half of October, exchange data showed on Monday, indicating bearish investors were stacking up against the stock even before a negative report torpedoed the shares last week.
National Bank Financial cut the target price on Capital Power Corporation to $26 from $27 following the company’s third-quarter results.
Acadian Timber Corp reports Q3 numbers today, expecting earnings of 30 cents per share
Ballard Power Systems projects a Q3 loss of four cents per share
ON BAYSTREET
The TSX Venture Exchange faded 4.34 points Monday to 546.87
ON WALLSTREET
Futures were mildly negative Tuesday morning amid a spate of earnings reports.
Ahead of the opening bell, futures for the Dow Jones faded 35 points, or 0.2%, to 17,496, futures for the S&P 500 dropped four points, or 0.2%, to 2,058.25, and futures for the NASDAQ inched down 2.75 points, or 0.1%, to 4,613.50
Corporate giants such as Ford, Comcast, Alibaba, Coach, UPS, Pfizer andT-Mobile are reporting before the trading day begins.
BP reported results that came in ahead of expectations so its shares are rising in London by nearly 2%.
After the closing bell, Apple will open its books alongside Twitter.
Last week a string of other big tech companies like Amazon, Alphabet and Microsoft set the stage with glowing results.
Wall Street will get further insight into the health of the U.S. housing market Tuesday when the Case-Shiller housing index comes out at 9 a.m. ET.
The Conference Board is posting its October consumer confidence index at 10 a.m. In September, the index showed Americans were feeling more confident because of lower gasoline prices and improvements in the labour market.
Oil prices erased 62 cents to $43.36 U.S. a barrel
Gold prices moved forward $4.65 to $1,167.69 U.S. an ounce.
