Futures in Canada’s biggest market edged higher on Tuesday, along with oil prices after Iraqi forces took control of oil fields in Kirkuk and U.S.-Iran political tension heightened.
The S&P/TSX Composite Index forfeited 4.47 points to wind up Monday at 15,802.70
The Canadian dollar let go of 0.12 cents at 79.75 cents U.S. Tuesday morning.
December futures eked up 0.1% Tuesday morning.
Bombardier’s CEO says Airbus SE’s acquisition of a majority stake in his company’s CSeries jetliner means the aircraft can be made in the United States and should enable the Canadian plane maker to skirt U.S. trade tariffs.
Desjardins raised the price target on Brookfield Renewable Partners LP to $43.50
RBC started coverage on Stella-Jones with an outperform rating and a price target of $56.00
Trade ministers from the United States, Canada and Mexico wrap up a contentious round of NAFTA trade talks on Tuesday marked by aggressive U.S. demands that have left the future of the 23-year-old free trade pact in doubt.
The Bank of Canada said Monday Canadian companies have seen capacity and labour market pressures intensify over the past year, but that has not yet hit their ability to meet demand, underscoring expectations the bank will not raise interest rates next week.
ON BAYSTREET
The TSX Venture Exchange dropped 4.95 points to close Monday at 792.49
ON WALLSTREET
U.S. stock index futures pointed to a relatively flat open Tuesday, as investors turn their attention to new data releases and corporate earnings reports.
Futures for the Dow Jones Industrials gained 15 points, or 0.1%, to 22,913, lifted by strong earnings from Goldman Sachs and Johnson & Johnson. The two companies reported quarterly results that beat expectations, sending their stocks higher by more than 1%.
S&P 500 futures dwindled 0.75 points to 2,555.50, while futures on the NASDAQ Composite index slipped four points, or 0.1%, to 6,116.25.
Morgan Stanley and Harley-Davidson also reported earnings and revenue that topped Wall Street estimates. Dow component IBM is scheduled to report Tuesday after the close.
Looking to data, import prices and the business leaders’ survey are both due out this morning, followed by industrial production a tad later.
The NAHB/Wells Fargo housing market index will then be released at 10 a.m. ET, followed by Treasury International Capital data, which is set to come out at 4 p.m. ET.
Overseas, European stocks were under slight pressure approaching noon on the continent Monday, while Japan’s Nikkei 225 increased 0.4%, while in Hong Kong, the Hang Seng Index gathered 4.69 points.
Oil prices increased 25 cents to $52.12 U.S. per barrel.
Gold prices slipped $12.80 to $1,290.20 U.S. an ounce.
