Futures for stocks in Canada’s biggest market were little changed on Tuesday as oil prices steadied after recent losses, while investors awaited a weekly report on U.S. oil inventory.
The S&P/TSX Composite Index gained 36.65 points to conclude Monday at 15,584.40. June futures receded 0.04%
The Canadian dollar tumbled 0.28 cents at 74.43 cents U.S. early Tuesday.
Bombardier tried to contain a public relations debacle on Monday after protests and a dressing down by Prime Minister Justin Trudeau over hefty executive pay hikes just weeks after its latest government loan.
TD Securities cut the rating on Premium Brands Holdings to hold from action list buy.
On the economic calendar, Statistics Canada reported that our merchandise trade balance with the world posted a $972-million deficit in February. Exports were down 2.4% while imports edged up 0.6%.
ON BAYSTREET
The TSX Venture Exchange surged 2.07 points Monday to 817.84
ON WALLSTREET
U.S. stock index futures pointed to a lower open on Tuesday as traders eyed a potentially tense meeting between U.S. President Donald Trump and Chinese premier Xi Jinping later in the trading week.
Ahead of the opening bell, futures for the Dow Jones Industrials dropped 56 points, or 0.3%, to 20,534. Futures for the S&P 500 slipped 8.5 points, or 0.4%, to 2,347.50. NASDAQ futures dipped 23 points, or 0.4%, to 5,411.50
On the earnings front, A Schulman is due to report after the market close.
Economically speaking, Tuesday saw trade deficit data for February, which showed the U.S. deficit narrowed more than expected to $43.56 billion. Economists expected it to have narrowed to $44.8 billion from a five-year high.
Market participants will keep an eye on them because of Trump's meeting with the Chinese premier.
Also on the data front, factory orders are scheduled at around 10 a.m. ET.
Overseas, European markets subsided a bit by the midday break, while the Nikkei 225 in Japan faded 0.9%. Markets in Hong Kong and Shanghai were off for holiday.
Oil prices moved up 35 cents to $50.59 U.S. per barrel.
Gold prices improved $6.80 to $1,260.80 U.S. an ounce.
