Stock futures pointed to a slightly higher opening for Canada's main stock index on Tuesday as oil prices rose, supported by Canadian production losses and uncertainty over Libyan exports.
The S&P/TSX Composite Index faltered 266.18 points, or 1.6%, from Friday’s all-time record close, to finish Monday’s trading at 16,183.96
The Canadian dollar subtracted 0.19 cents to 75.05 cents U.S. early Tuesday
June futures inched ahead 0.04% Tuesday
Hudson's Bay Chief Executive Helena Foulkes is expected to discuss a joint venture between Germany's Kaufhof and Austrian property group Signa Holding during a trip to Europe this week
CIBC cut the rating on Arizona Mining to neutral from outperform.
Raymond James raised the price target on Conifex Timber to $10.50 from $10.00
ON BAYSTREET
The TSX Venture Exchange subtracted 5.97 points Monday to 750.27
ON WALLSTREET
U.S. stock futures pointed to a flat open on Tuesday as mixed messages from the Trump administration kept investors in check.
Futures for the Dow Jones Industrials descended 26 points, or 0.1%, to 24,253
S&P 500 futures faded 1.75 points or 0.1%, to 2,720.50, while futures for the NASDAQ composite index advanced nine points, or 0.1%, to 7,082.50.
Sonic Corporation is one of a few companies set to announce earnings Tuesday morning.
Harley-Davidson declined almost 6% on Monday after announcing it will shift production of motorcycles headed for Europe to factories outside the U.S. Trump went after the motorcycle maker on Tuesday, saying in a tweet "they won’t be able to sell back into U.S. without paying a big tax."
General Electric shares jumped more than 5% in the pre-market after the company revealed a plan to spin off its health-care business and sell its stake in Baker Hughes. The company also announced it will maintain its current dividend until the spinoff is complete. GE was also replaced by Walgreens Boots Alliance on the Dow.
Treasury Secretary Steven Mnuchin said in a tweet Monday that a report from the Wall Street Journal about the Trump administration planning to curb Chinese investment in U.S. tech was “fake news.” Mnuchin added, however, that those restrictions will apply to “all countries that are trying to steal our technology.”
Later on Monday, Peter Navarro, a trade advisor to President Donald Trump, told the media there were no plans on slapping investment restrictions on China or other countries. He also called the stock market was overreacting to such fears.
However, White House press secretary Sarah Sanders doubled down on Mnuchin’s statement, saying in a press briefing: “As the Secretary said, a statement would go out that targets all countries that are trying to steal our technology, and we expect that to be out soon.”
In Japan, the Nikkei 225 acquired three points Tuesday. In Hong Kong, the Hang Seng index dipped 0.8%.
Oil prices took on 24 cents to $68.32 U.S. per barrel.
Gold prices docked $12.20 to $1,256.70 U.S. an ounce.
