Futures for Canada's main stock index rose on Tuesday as oil prices jumped on signs of improving demand, while sentiment was also supported by more economic stimulus from global central banks.
The S&P/TSX Composite Index grabbed 103.01 points Monday to 15,359.66.
The Canadian dollar settled 0.13 cents early Tuesday to 73.75 U.S.
June futures hiked 1.4% Tuesday.
RBC raised the rating on Canwel Building Materials Group to outperform from sector perform
Evercore ISI starts coverage on Enbridge with an outperform rating and a price target $55
Evercore ISI starts coverage on TCP Energy with an outperform rating and a price target of $75
On the economic beat, Statistics Canada said foreign investment in Canadian securities reached a record-high of $49 billion in April, all in debt securities.
Meanwhile, Canadian divestment in foreign securities eased considerably to $134 million.
ON BAYSTREET
The TSX Venture Exchange surged 4.91 points Monday to 559.82.
ON WALLSTREET
Futures contracts tied to the major U.S. stock indexes rose sharply early Tuesday following media reports President Donald Trump’s administration is preparing a $1-trillion infrastructure proposal.
Futures for Dow Jones Industrials hurtled higher 504 points, or 2%, early Tuesday, to 26,179.
Futures for the S&P 500 jumped 44 points, or 1.4%, to 3,106.
Futures for the NASDAQ Composite Index popped 134.5 points, or 1.4%, to 9,923.
The report said a preliminary version being prepared would set aside the majority of the money for traditional infrastructure projects such as roads and bridges, though funds would also be reserved for 5G wireless infrastructure and rural broadband.
Shares of companies that would benefit from the economy reopening led the pre-market gains. United, Delta and American Airlines all rose at least 6.8%. Norwegian Cruise Line, Carnival and Royal Caribbean jumped more than 8% each. MGM Resorts added 7.5%, Kohl’s leaped 6% and Simon Property advanced 6.7%.
Earlier in the session, Dow futures were up more than 500 points. Some of those gains were pared following reports that North Korea blew up an inter-Korean liaison office in a border town.
Wall Street will also pore over the latest retail sales figures — a key look at consumer spending activity — as well as industrial production and business inventories data on Tuesday.
Overseas, in Tokyo, the Nikkei 225 hiked 4.9%, Tuesday, while in Hong Kong, the Hang Sang index gained back 2.4%.
Oil prices improved 73 cents at $37.85 U.S. a barrel.
Gold prices brightened $7.50 to $1,734.70.
