Futures for Canada’s main stock index were higher on Tuesday over hopes that U.S. President Donald Trump may signal progress on trade talks with China.
The TSX Composite Index struggled to a gain of 5.41 points to close Monday’s first session at 16,882.83
The Canadian dollar slid 0.07 cents to 75.49 cents U.S. early Tuesday
December futures advanced 0.2% early Tuesday.
Restaurant Brands International revealed on Monday that its Burger King restaurants rolled out a meat-free version of its Whopper burger in 25 European countries, using patties made by Unilever Plc to strengthen its foothold in the exploding market for plant-based food served in restaurant chains.
Cronos Group reported a bigger quarterly loss on Tuesday, as the Canadian marijuana producer was weighed down by lower margins and surge in expenses.
CIBC cut the target price on Premium Brands Holdings to $81.00 from $94.00
CIBC raised the target price on Optiva to $58.00 from $50.00
Then, CIBC raised the target price on Canadian Natural Resources to $48.00 from $46.00
ON BAYSTREET
The TSX Venture Exchange forfeited 2.37 points Monday at 534.60
ON WALLSTREET
U.S. stock index futures were slightly higher on Tuesday as investors awaited a speech from President Donald Trump on trade and economic policy.
Futures for the Dow Jones Industrials gained 20 points, or 0.1%, early Tuesday to 27,678.
Futures for the S&P 500 eked up 1.25 points at 3,088.75.
The Dow eked out a record close Monday as Boeing shares jumped, but the S&P 500 snapped a three-day winning streak.
The NASDAQ Composite picked up 8.5 points, or 0.1%, to 8,258.25.
Recent optimism around U.S.-China trade helped stocks reach record highs. The Dow and S&P 500 are both up more than 3% over the past month while the NASDAQ has risen 5.8% in that time.
Trump will be speaking at the Economic Club of New York later in the day where he could give clues to the status of trade talks between the U.S. and China. His speech comes amid some concerns regarding plans to sign a trade deal in the coming weeks.
President Donald Trump said Friday that he had not agreed to scrap tariffs on Chinese goods after reports earlier last week said both sides had agreed to cancel existing tariffs in phases. Last month, Trump said China and the U.S. agreed to a phase one trade deal to be signed later in November.
Overseas, in Japan, the Nikkei 225 gained 0.8% Tuesday, while in Hong Kong, the Hang Seng Index moved ahead 0.5%.
Oil prices gained 26 cents to $57.12 U.S. a barrel.
Gold prices dipped $2.20 to $1,454.900 U.S. an ounce.
