Stock futures pointed to a flat opening for markets in Canada on Tuesday ahead of the U.S. Federal Reserve's meeting
The S&P/TSX Composite Index dropped 10.5 points to conclude Monday at 15,575.63 June futures were flat early Tuesday
The Canadian dollar was unchanged at 73.11 cents U.S. early Tuesday.
Encana Corp reported a better-than-expected operating profit for the first quarter on Tuesday, helped by a rise in oil and gas prices.
WestJet Airlines on Tuesday reported a 45% fall in quarterly profit, as higher fuel costs squeezed margins.
Sumitomo Corp said on Tuesday it and Korea Resources Corp (Kores) will get a larger stake in the Ambatovy nickel project in Madagascar, as part of a debt restructuring deal with partner Sherritt International Corp.
Canaccord Genuity raised the rating on Finning International to buy from hold.
National Bank of Canada started coverage on Sleep Country Canada with an outperform rating.
National Bank of Canada resumed coverage on Genworth MI Canada with a sector perform rating.
ON BAYSTREET
The TSX Venture Exchange faltered 5.71 points Monday to 801.06
ON WALLSTREET
U.S. stock index futures indicated a mixed open on Tuesday as the Federal Reserve's open market committee meeting kicked off.
Ahead of the opening bell, futures for the Dow Jones Industrials dipped 15 points, or 0.1%, to 20,858. Futures for the S&P 500 slipped 1.25 points, or 0.1%, to 2,385.75. NASDAQ futures gained 5.25 points, or 0.1%, to 5,636.
Among firms reporting earnings, Apple, Mondelez and Western Union are due to report after the bell. Dow component Pfizer reported mixed results, with earnings topping expectations while sales missed. Merck, another Dow member, beat expectations on both the top and bottom lines.
The Fed's policymaking committee is largely expected to hold rates steady this week. Experts put market expectations for an interest rate hike on Wednesday below 5%.
Economically speaking, Tuesday will see U.S. auto sales figures for April. The number is expected to come in at an annual rate of 17.2 million, compared with March's annual rate of 16.6 million.
European stocks were generally higher heading into lunch hour, while in Japan, the Nikkei 225 vaulted 0.7%, while the CSI 300 in Shanghai returned to business after the May Day holiday, but losing 0.4%.
Oil prices peeked up 25 cents to $49.09 U.S. per barrel.
Gold prices eased off 50 cents to $1,255 U.S. an ounce.
