Futures tied to Canada’s main stock index rose on Tuesday on higher crude and precious metal prices, while investors awaited a deluge of major corporate earnings from the United States.
The TSX acquired 101.99 points to end Monday at 24,565.66.
December futures picked up 0.2% Tuesday.
The Canadian dollar eked ahead 0.05 cents to 72.05 cents U.S.
Looking ahead, Bank of Canada Governor Tiff Macklem is expected to appear at the House of Commons Standing Committee on Finance at 03:30 p.m. ET.
In corporate news, the U.S. Department of Energy finalized a $2.26-billion loan for Lithium Americas on Monday to build Nevada’s Thacker Pass lithium mine.
ON BAYSTREET
The TSX Venture Exchange handed back 2.76 points Monday to 617.15.
ON WALLSTREET
Stock futures were muted Tuesday as investors readied for key corporate earnings releases, including reports from notable tech names.
Futures for the Dow Jones Industrials declined 62 points, or 0.1%, to 42.544.
Futures for the S&P 500 slid 2.75 points, or 0.1% to 5,858.75.
Futures for the NASDAQ Composite Index gained 10.25 points, or 0.1%, to 20,501.50.
Ford Motor slid about 6% after the automaker provided full-year guidance that was on the low end of its previously set range. On the other hand, North Face parent VF Corp jumped 21% after posting better-than-expected results.
Those moves come after a winning session on Wall Street for the three major indexes. Notably, the blue-chip Dow broke a five-day losing streak, while the tech-heavy NASDAQ Composite notched its eighth positive session of the last nine.
Stock investors appeared to welcome a drop in oil prices, which came after weekend airstrikes from Israel toward Iran didn’t hit energy facilities as some expected. But equity gains were capped as Treasury yields continued to rise.
Traders will keep an eye on earnings reports from major companies due on Tuesday as the busiest week of this earnings season continues.
Pfizer and McDonald’s will post results before the bell, followed by Alphabet, Snap, Reddit, Chipotle and Advanced Micro Devices after the market closes.
On the economic front, investors will monitor job openings and labor turnover data due in the morning, the first of several reports coming this week that will provide insight into the strength of the job market. Elsewhere, stats on housing prices and consumer confidence are also expected on Tuesday.
In Japan, the Nikkei 225 gained 0.8% Tuesday, while in Hong Kong, the Hang Seng moved up 0.5%.
Oil prices gained 71 cents to $68.09 U.S. a barrel.
Gold prices brightened $6.80 to $2,762.70.
