Canadian stock index futures rose, ahead of a key two-day U.S Federal Reserve meeting, which is almost certain to conclude with the second rise in U.S. interest rates since the global financial crisis.
The S&P/TSX Composite reared back 24.5 points to close Monday 15,287.70
The Canadian dollar trailed 0.09 cents to 76.2 U.S. early Tuesday.
Husky Energy began restarting the 26,000-barrel-per-day isocracker Saturday at its Lima, Ohio, refinery after roughly two weeks of planned work.
Magna International may build a new plant in Europe as its Austrian factory runs out of capacity, according to its head of its European business. Jaguar Land Rover's full-electric SUV i-Pace will also be constructed at Magna's Graz plant from next year.
Canaccord Genuity raised the target price on Enerplus Corp to $16.00 from $11.00, to reflect a higher drilling density and modest
improvements in natural gas realized pricing. TD Securities cut the target on Wajax Corp to hold from buy, saying that despite higher sector valuations, the stock's valuation no longer looks compelling.
North West Company is due for Q3 earnings today, projecting 42 cents per share
ON BAYSTREET
The TSX Venture Exchange stayed positive 4.91 points Monday to 753.71
ON WALLSTREET
U.S. stock index futures pointed to a higher open on Tuesday as traders eyed an upcoming meeting by the Federal Reserve.
Ahead of the opening bell, futures for the Dow Jones Industrials ballooned 77 points, or 0.4%, to 19,800. Futures for the S&P 500 added 7.75 points, or 0.3%, to 2,258.25. NASDAQ futures leaped 20.25 points, or 0.4%, at 4,886.50
On the earnings front ABM Inds, Heico and Nordson are all due to report after the bell.
On the data front, the November read on the NFIB Small Business index came in at 98.4, above October's 94.9. Import prices for November are also scheduled for released this morning.
The long awaited Federal Reserve Open Market Committee meeting will take place on Tuesday and Wednesday and if, as widely expected, an interest rate hike is announced it would represent the first rate rise of 2016.
The International Energy Agency released its monthly oil report on Tuesday and forecast global oil demand to increase at a quicker pace than expected in 2016 and 2017 although cited that it was too soon to judge the impact of the joint production cut from members and non-members of the Organization of the Petroleum Exporting Countries.
European markets were higher on Tuesday. In Asia, the Shanghai composite in China closed 0.1% higher, while the Nikkei in Japan closed 0.5% higher.
Oil prices acquired 26 cents to $53.09 U.S. a barrel
Gold prices faded $4.30 at $1,161.50 U.S. an ounce.
