Futures for equities in Canada’s largest centre rose on Tuesday, helped by rising oil prices, while U.S. President Donald Trump's assurance on the trade deal with Beijing further bolstered sentiment.
The S&P/TSX Composite Index gained 42.7 points to meet the closing bell Monday at 15,516.90.
The Canadian dollar inched higher 0.11 cents Tuesday to 74.11 cents U.S.
June futures hiked 0.9% Tuesday.
Air Canada said on Monday it had closed two additional financing deals for net proceeds of $1.23 billion, as it shores up funds to meet expenses amid the coronavirus crisis.
Canaccord Genuity starts coverage on Airboss Of America with a buy rating, target price of $27.00.
RBC raised the target price on Canadian Utilities to $39.00 from $38.00.
Canaccord Genuity resumes coverage on Exchange Income Corp. with a buy rating, $35 target price.
ON BAYSTREET
The TSX Venture Exchange added 10.24 points, or 1.8%, to 577.44.
ON WALLSTREET
Stock futures recovered from earlier losses to trade higher early Tuesday after White House trade advisor Peter Navarro clarified that the U.S.-China trade deal is not over.
Futures for Dow Jones Industrials surged 306 points, or 1.2%, early Tuesday, to 26,259.
Futures for the S&P 500 gathered 30.75 points, or 1%, to 3,141.50.
Futures for the NASDAQ Composite Index gained 70 points, or 0.7%, to 10,194.75.
"My comments have been taken wildly out of context," Navarro said in a statement. "They had nothing at all to do with the Phase I trade deal, which continues in place."
Navarro had implied to one media outlet that the deal was over, but in his subsequent statement, Navarro said, "I was simply speaking to the lack of trust we now have of the Chinese Communist Party after they lied about the origins of the China virus and foisted a pandemic upon the world."
Apple was among the best-performing stocks in the pre-market, gaining 1.7%. That advance put the tech giant on pace to hit a fresh record high at the open.
Bank stocks rose broadly. JPMorgan Chase, Citigroup, Wells Fargo and Bank of America all gained more than 2%.
New home sales data from May will be released on Tuesday morning.
The number of newly confirmed coronavirus cases at home and abroad continues to increase, raising questions about economic recovery from the virus. The largest single-day increase in global coronavirus cases was recorded on Sunday, according to the World Health Organization, after more than 183,000 new cases were reported worldwide.
The U.S. saw more than 36,000 new cases reported on Sunday after more than 30,000 new cases were reported on both Friday and Saturday, data compiled by Johns Hopkins University showed. Widespread testing is contributing to the uptick in reported cases.
Overseas, in Tokyo, the Nikkei 225 regained 0.5% Tuesday, while in Hong Kong, the Hang Sang hiked 1.6%.
Oil prices picked up 81 cents at $41.54 U.S. a barrel.
Gold prices added $6.20 to $1,772.60.
