Stock futures pointed to a higher opening for Canada's main stock index on Tuesday, as oil prices hit a 3-1/2-year high, buoyed by tight supply and looming U.S. sanctions against Iran.
The S&P/TSX Composite Index leaped 102.29 points to end Monday at 16,085.61
The Canadian dollar faded 0.19 cents to 77.92 cents U.S. early Tuesday
On the economic front, the Canadian Real Estate Association was to come out with MLS sales for April.
ON BAYSTREET
The TSX Venture Exchange hiked 7.4 points, or nearly 1%, Monday to 790.31
ON WALLSTREET
U.S. stock index futures pointed to a lower open on Tuesday morning after Home Depot reported quarterly sales that fell short of Wall Street's expectations.
Futures for the Dow Jones Industrial Average shed 84 points, or 0.3%, to 24,802
S&P 500 futures dipped eight points, or 0.3%, to 2,723, while futures for the NASDAQ composite index stepped back 30.25 points, or 0.4%, to 6,944.75
The slip in U.S. equity futures came after Home Depot reported first-quarter earnings that beat Wall Street's expectations, but missed estimates on the top line thanks to what the company categorized as a "slow start" to spring sales.
Spring is an especially important season for the home improvement retailer as shoppers traditionally stock up on gardening supplies and renovation materials. Customer transactions, however, fell 1.3% during the quarter.
In economic data, April retail sales numbers were due at 8:30 a.m. ET.
In Japan, the Nikkei 225 dropped 0.2%, while in Hong Kong, the Hang Seng index faded 1.2%. In Europe, shares were largely unchanged after data revealed a deceleration in euro-area economic growth to 0.4% in the first quarter, down from 0.7% in the fourth quarter of last year.
Oil prices added 65 cents to $71.61 U.S. per barrel.
Gold prices faded $11.70 to $1,306.50 U.S. an ounce.
