Stock futures on Canada’s biggest market pointed to a higher opening on Tuesday as oil prices rose.
The S&P/TSX Composite Index moved negative 1.46 points to conclude Monday at 15,855.76
The Canadian dollar dipped 0.05 cents at 79.04 cents U.S. Tuesday morning.
December futures gained 0.2% Tuesday morning.
China's state-owned Sinochem Group appeared to deny a media report that it was bidding for a stake in Chilean lithium producer SQM being sold by Potash Corporation of Saskatchewan.
Canaccord Genuity cut the price target on Eldorado Gold to $2.25 from $3.25
Barclays raised the price target on First Quantum Minerals to $15.10 from $12.65
ON BAYSTREET
The TSX Venture Exchange fell backward 4.32 points Monday to 785.19
ON WALLSTREET
U.S. stock index futures point to a higher open on Tuesday as earnings season kicked up a notch.
Futures for the Dow Jones Industrials vaulted 142 points, or 0.6%, to 23,370, boosted by strong quarterly results from 3M and Caterpillar.
Caterpillar reported earnings per share of $1.95 on revenue of $11.413 billion. Analysts expected a profit of $1.27 per share on sales of $10.649 billion. Caterpillar shares rose 6.1%.
3M shares rose 3.1% before the bell after the company posted earnings per share of $2.33 on sales of $8.172 billion. Analysts expected a profit of $2.21 per share on revenue of $7.927 billion.
United Technologies, another Dow component, also reported better-than-expected results; its stock rose 2.6% in the pre-market.
S&P 500 futures gained 4.75 points, or 0.2%, to 2,568.w5, while futures on the NASDAQ Composite index prospered 8.75 points, or 0.1%, to 6,073.50.
General Motors, Eli Lilly and Polaris Industries also reported quarterly results before the bell.
After the bell, AT&T, Capital One, Chipotle Mexican Grill, Discover Financial, Juniper Networks and many more are set to report earnings.
This is the busiest week of the earnings season, with about a third of the S&P 500 expected to have reported by Friday.
Data is also likely to hit the spot, as a whole slew of economic releases get published during the morning hours.
At 8:30 a.m. ET, investors are expected to pore over the latest Philadelphia Fed non-manufacturing business outlook survey, followed by the flash U.S. Composite Purchasing Managers Index at 9:45 a.m. ET. These releases will then be accompanied by the Richmond Fed survey of manufacturing activity, due out at 10 a.m. ET.
Overseas, European stocks were under slight pressure approaching noon on the continent Monday, while Japan’s Nikkei 225 picked up 0.5%, while in Hong Kong, the Hang Seng Index declined 0.5%
Oil prices gained 35 cents to $52.25 U.S. per barrel.
Gold prices slid $3.70 to $1,277.20 U.S. an ounce.
