Futures on Toronto’s stock markets rose on Tuesday, tracking global equities, as investors anticipate major central banks to cut interest rates in the near future.
The S&P/TSX Composite Index gained 32.94 points to end Monday at 16,518.88
The Canadian dollar docked 0.09 cents to 76.10 cents U.S. early Tuesday
September futures hiked 0.4% Tuesday.
Private equity firm Catalyst Capital Group on Monday offered to buy an estimated $150-million stake in Hudson's Bay Co, and said it will oppose Executive Chairman Richard Baker's $1.74-billion take-private proposal.
CIBC raised the target price on Altagas to $21.00 from $20.00
CIBC raised the target price on Fortis to $55.00 from $52.00
National Bank of Canada raised the target price on PrairieSky Royalty to $18.50 from $17.50
ON BAYSTREET
The TSX Venture Exchange added 1.92 points to conclude Monday at 593.88
ON WALLSTREET
U.S. stock index futures jumped on Tuesday morning after a number of better-than-expected earnings.
Futures for the Dow Jones Industrials leaped 89 points, or 0.3%, to 27,265.
Futures for the S&P 500 took on 8.75 points, or 0.3%, at 2,997.75
NASDAQ futures gained 26.75 points, or 0.3%, to 7,951.50
Coca-Cola and United Technologies shares both jumped after the companies reported second-quarter earnings. Shares of Coca-Cola traded 1.9% higher while United Technologies advanced 2.3%.
Visa, Chipotle and Snap are among those reporting after the bell.
More than 18% of S&P 500 companies have posted quarterly numbers this earnings season. Of those companies more than 78% have reported better-than-expected profits. Those companies have also seen their earnings grow by an aggregate of 3.6%.
Meanwhile, Intel shares jumped 1.1% after the Wall Street Journal reported that Apple is in talks to buy the company’s modem chip business.
Economic data will also be in focus, with May’s Federal Housing Finance Agency House Price Index and June’s existing home sales figures set for release.
Overseas, in Japan, the Nikkei 225 index jumped 1% Tuesday, while in the Hong Kong, the Hang Seng index moved ahead 0.3%,
Oil prices slid 23 cents to $55.99 U.S. a barrel.
Gold prices sank $3.60 to $1,423.30 U.S. an ounce.
