Big Day in Store, as Oil Prices Surge

Shopify, Aurora in Spotlight

Canada's main index futures rose on Tuesday, as crude prices climbed more than 2%

The S&P/TSX Composite Index dropped 64.48 points to finish Monday 15,568.85

The Canadian dollar improved 0.23 cents to 75.4 cents U.S. early Tuesday

March futures zoomed 0.5% Tuesday.

Shopify's loss narrowed in the fourth quarter, the online store builder said on Tuesday, as it signed up more businesses and earned higher payment processing fees.

Aurora Cannabis reported better-than-expected quarterly revenue on Monday, as the company benefited from higher sales after the federal government legalized the use of recreational cannabis in October.

RBC raised the target price on Constellation Software to $1,250 from $1,150

Goldman Sachs cut the rating on First Quantum Minerals to neutral from buy

RBC raised the target price on Valener to $22 from $21

ON BAYSTREET

The S&P/TSX Composite Index dropped 64.48 points to finish Monday 15,568.85

ON WALLSTREET

U.S. stock index futures rose Tuesday amid news that U.S. lawmakers had secured a tentative deal on border security funding on Monday.

Futures for the Dow Jones Industrial Average hiked 195 points, or 0.8%, at 25,217.

Futures for the S&P 500 jumped 19.25 points, or 0.7%, to 2,727.50

NASDAQ futures heightened 56.75 points, or 0.8%, to 6,971

Denny’s Corporation and Groupon are among the firms declaring earnings Tuesday.

The drafted agreement — which congressional aides said did not contain funds for President Donald Trump's border wall — could help to prevent another partial government shutdown due to begin from Saturday. The government was shut down for 35 days until Jan. 25, the longest one in history.

Market focus is also largely attuned to global trade developments, with the U.S. and China trying to hammer out a deal before an early March deadline.

Both sides expressed hopes the new round of negotiations, which began in Beijing on Monday, would bring them closer to a comprehensive trade agreement.

On the data front, Job Openings and Labor Turnover Survey (JOLTS) figures for December will be published later in the session.

Overseas, in Japan, markets returned from holiday Tuesday with a gain of 2.6%, while in Hong Kong, the Hang Seng poked ahead 0.1%.

Oil prices spiked $1.32 to $53.73 U.S. a barrel.

Gold prices shone brighter $5.60 to $1,317.50 U.S. an ounce.