Canadian stock futures pointed to a higher opening for the main stock index on the first trading of the year Tuesday, as oil prices jumped over 2%
The S&P/TSX Composite collapsed 142.96 points to close Friday, the week, month and 2016 at 15,279.16
Even so, the index improved more than 2,200 points, or 16.3%, from 2015’s finish of 13,009.95.
March futures sprinted 0.7% Tuesday.
The Canadian dollar dipped 0.03 cents to 74.35 U.S. early Tuesday
Canadian equity markets were closed Monday for New Year’s Day
Markit Manufacturing PMI data is due at 9:30 a.m.
ON BAYSTREET
The TSX Venture Exchange held its momentum, gaining 2.15 points Friday to finish the year at 762.37
ON WALLSTREET
U.S. stock index futures pointed to a higher open on Tuesday as traders eyed key data releases on the first trading day of 2017.
Ahead of the opening bell, futures for the Dow Jones Industrials climbed 143 points, or 0.7%, at 19,863. Futures for the S&P 500 took on 16.75 points, or 0.8%, to 2,253. NASDAQ futures bolted higher 40 points, or 0.8%, at 4,904.
On the data front, Tuesday will see manufacturing Purchasing Managers Index data released at 9:45 a.m. ET followed by Institute for Supply Management manufacturing and construction spending which are both scheduled for 10 a.m. ET.
There are no major earnings reports scheduled for Tuesday.
In Europe, the pan-European Stoxx-600 index was around 0.8% higher on Tuesday. In Asia, the CSI 300 in China closed 1% higher, while markets in Japan were closed.
Oil prices gained $1.25 to $54.97 U.S. a barrel
Gold prices skidded three dollars to $1,148.70 U.S. an ounce.
