Stock futures pointed to a higher start for equity markets in Toronto on Tuesday as oil prices gained on expectations of a drop in U.S. inventories.
The S&P/TSX Composite hiked 106.85 points to close Monday at 14,755.62. September futures improved 0.3% Tuesday.
The Canadian dollar eased back 0.04 cents to 75.96 cents U.S. early Tuesday
Valeant Pharmaceuticals International said on Tuesday it would reorganize, and stood by its full-year forecast, as it attempts to restore investor confidence after facing a storm of criticism over its business practices.
Bank of Nova Scotia has applied to Taiwan's financial regulator to exit the local market, part of a revamp of its Asia strategy.
Agrium has reportedly suspended operations at its Vanscoy potash mine in Saskatchewan after a worker was injured
CIBC cut the rating on Richmont Mines to sector perform from outperform.
RBC raised the target price on Vermilion Energy to $47.00 from $43.00
On the economic scene, Canada Mortgage and Housing Corporation reported that the seasonally-adjusted annualized rate of housing starts declined to 198,395 in July, down from a revised 218,326 in June. Economists had forecast 195,000 starts in July.
ON BAYSTREET
The TSX Venture Exchange gained 8.87 points Monday to 815.56
ON WALLSTREET
U.S. stock futures are holding steady, and American markets are close to surpassing all-time highs.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 28 points or 0.2%, to 18,488, while futures for the S&P 500 picked up three points, or 0.1%, at 2,178.5. NASDAQ futures surged 8.25 points, or 0.2%, to 4,787.50
One of the main companies reporting earnings Tuesday is Disney. The entertainment company could use some good news. Its stock is down 9% so far this year. A deadly alligator attack on a two-year old boy near a Walt Disney World hotel in June has bruised the company's cheery image.
Disney earnings are due after the closing bell, when Sun Life, Fossil and SolarCity -- which is merging with Tesla, are also due to report.
Ahead of the open, investors will hear from Charter Communications, Coach, Tribune Media and Valeant Pharmaceuticals.
Shares in Gap are sinking by about 5% in extended trading after the retailer issued a worse-than-expected quarterly sales update. The struggling retailer has seen its shares fall by about 45% since hitting a recent high in 2014.
European markets are rising in early trading, though the gains are small. Asian markets are closing out the day with mixed results. India's main index dipped after the Reserve Bank of India left interest rates unchanged.
Oil prices nicked up eight cents to $43.10 U.S. a barrel
Gold prices lost $3.50 at $1,367.80 U.S. an ounce.
