Futures for Canada's main stock index were up on Tuesday as escalating tensions between the United States and Iran pushed crude oil prices higher.
The S&P/TSX Composite Index faded 14.62 points to close Monday at 16,420.84
The Canadian dollar gained 0.11 cents at 76.04 cents U.S. early Tuesday
September futures zoomed 0.4% Tuesday
Jefferies starts coverage on Mav Beauty Brands with buy rating, and a price target of $15
Mizuho initiated coverage on Suncor Energy with a buy rating, and a $61 price target
Canaccord Genuity started coverage on Sun Life Financial with a hold rating and price target of $58.00
ON BAYSTREET
The TSX Venture Exchange sank 2.02 points Monday to 710.31
ON WALLSTREET
U.S. stock index futures rose prior to Tuesday’s open, boosted by a wave of strong corporate earnings that was led by Google-parent company Alphabet.
Futures for the Dow Jones Industrials ballooned 134 points, or 0.5%, to 25,167.
S&P 500 futures gained 10.75 points, or 0.4%, to 2,822.75, while futures for the NASDAQ composite picked up 27.25 points, or 0.4%, to 7,457.75
Alphabet shares surged 4.5% in the pre-market to lead tech shares higher after the company reported stronger-than-forecast quarterly results. Facebook gained 2.2%, and Amazon rose 1.4%. Netflix picked up 0.7%, and Twitter moved forward 1%.
Eli Lilly also reported better-than-expected earnings. The company said it plans to file an initial public offering for its Elanco Animal Health unit as well. Shares of Eli Lilly rose more than 3% before the bell.
Biogen shares jumped more than 5.5% after reporting earnings and revenue that beat expectations. Dow component United Technologies posted stronger-than-expected earnings and raising its full-year profit guidance, but its stock fell 0.6%.
The Philadelphia Federal Reserve’s non-manufacturing survey is due out this morning. The U.S. composite purchasing managers’ index (PMI) is also due out at 9:45 a.m. ET, while the Richmond Fed survey of manufacturing activity is expected to be released at 10 a.m. ET.
Overseas, in Japan, the Nikkei 225 recovered 0.5%, while in Hong Kong, the Hang Seng index raced ahead 1.4%.
Oil prices acquired 50 cents to $68.39 U.S. a barrel.
Gold prices advanced $1.20 to $1,226.80 U.S. an ounce.
