Futures for Canada's main stock index were lower on Tuesday after oil prices pulled back from previous session gains
The S&P/TSX Composite added 68.89 points to Friday’s all-time closing high, concluding Monday at 16,751.31
The Canadian dollar descended 0.12 cents to 75.41 cents U.S. early Tuesday
September futures dipped 0.1% early Tuesday.
JP Morgan rolled forward Dec 2020 price target on Lightspeed POS of $41.00
National Bank of Canada raised the price target on WSP Global to $84.00 from $79.00
On the economic front, Statistics Canada revealed that manufacturing sales decreased 1.3% to $57.2 billion in July, mainly as a result of lower sales at primary metal and motor vehicle industries.
ON BAYSTREET
The TSX Venture Exchange fell 0.65 points Monday to 588.51
ON WALLSTREET
U.S. stocks were set to open slightly lower Tuesday morning as investors braced for the start of a two-day Federal Reserve policy meeting.
Futures for the Dow Jones Industrials demurred 59 points, or 0.2%, early Tuesday to 27,021
Futures for the S&P 500 lost four points, or 0.1%, at 2,997.50
NASDAQ Composite futures dropped 7.25 points, or 0.1%, to 7,872.25
Adobe Inc. and FedEx are among a number of companies reporting earnings Tuesday.
The Fed is set to kick off its meeting on Tuesday with an announcement scheduled for Wednesday at 2 p.m. ET. Fed Chairman Jerome Powell is set to hold a news conference after the central bank’s policy announcement.
Market expectations are for the Fed to cut rates for the second time this year. However, expectations for the Fed to keep rates unchanged have risen to 34.2% from 7.7% a week ago.
Investors will be looking ahead to a new business leaders survey, due at 8:30 a.m. ET; industrial production numbers will be out at 9:15 a.m.; and the housing market index due at 10 a.m. ET.
Overseas, in Japan, markets returned Tuesday from holiday with a gain of 0.1%, while in the Hong Kong, the Hang Seng index slouched 1.2%
Oil prices lopped off 80 cents to $62.10 U.S. a barrel.
Gold prices gained 30 cents to $1,511.80 U.S. an ounce.
