Futures on Canadian stocks markets rose as oil prices advanced on hopes that producers will agree to limit output at a meeting of the Organization of the Petroleum Exporting Countries next week.
The S&P/TSX Composite shot higher 175.84 points, or 1.2%, to close Monday at 15,039.87
The Canadian dollar added 0.15 to 74.68 cents U.S. early Tuesday.
Bombardier said it won an eight-year contract valued at $331 million from Montreal's regional transport authority. The deal, in effect since Nov. 18, is to operate and maintain a commuter rail fleet in the greater Montreal area.
Canada's Competition Bureau concluded on Monday that TMX Group did not violate anti-competitive rules despite its refusal to share private market data with a rival.
National Bank Financial raised the target price on Golden Star Resources to $1.70 from $1.50, saying Prestea and Wassa underground mines have attributes to create long-term sustainable value for the company.
National Bank Financial raises target price on Hudbay Minerals to $9.00 from $7.00, with increased clarity on future cash flows and near term liquidity that set to improve.
Alimentation Couche-Tard is out with earnings today, projecting Q2 earnings of 59 cents per share
George Weston expects Q3 earnings of $2.02 per share
On the economic slate, Statistics Canada reported that retail trade rose 0.6% to $44.4 billion in September on the strength of higher sales at motor vehicle and parts dealers. The hike broke a four-month string of stagnant readings.
Moreover, Canadians on employment insurance totaled 571,800 in September, up 3,300 or 0.6% from August. On a year-over-year basis, the number of beneficiaries was up 27,800, or 5.1%.
ON BAYSTREET
The TSX Venture Exchange hung onto gains of 1.26 points to close Monday’s session at 747.93
ON WALLSTREET
U.S. stock index futures pointed to a higher open on Tuesday after the four major market indexes all closed at record highs in the previous session.
Ahead of the opening bell, futures for the Dow Jones Industrials added 44 points, or 0.2%, to 18,954. Futures for the S&P 500 moved up 3.75 points, or 0.2%, to 2,196.75. NASDAQ futures gained 19 points, or 0.4%, to 4,873.
On the earnings front, Campbell Soup, Medtronic and Hormel Foods reported quarterly results. Meanwhile, Hewlett Packard Enterprises, HP Inc and Urban Outfitters are due to report after the bell.
On the data front, Tuesday will see existing home sales for October as well as a Richmond Fed survey for November, both released at 10 a.m. ET.
European markets were marginally higher approaching noon on the continent. In Asia, the Shanghai Composite in China closed 1% higher, while the Nikkei in Japan closed 0.3% higher, too.
Oil prices dipped 32 cents to $47.92 U.S. a barrel
Gold prices hiked $6.10 at $1,215.90 U.S. an ounce.
