CANADA STOCKS-TSX may open higher on stronger commodity prices
July 13 (Reuters) - Toronto's main stock index could open higher on Tuesday as commodity prices rose on optimism over the global economic recovery.
The Reuters-Jefferies CRB index .CRB, a global commodities benchmark, was up 0.62 percent in early trade. Canadian equity futures also pointed to a higher start. <0#SXF:>
Wall Street is set to open higher as the corporate earnings season gathers pace after Alcoa (AA.N: Quote) results beat forecast. [.N]
Gains in equities, however, could be capped by some nervousness over the outlook for euro zone peripheral countries after Moody's Investor Service cut its rating on Portugal by two notches to A1.
European shares rose, extending a rally into a sixth session, on U.S. earnings optimism.
Asian equities were pressured by Chinese stocks, which slid on reports that Beijing will not relax tougher property measures any time soon.
Here is some news that could affect stock prices:
Oil reversed early losses on Tuesday to rise above $75 a barrel as optimism about the economic recovery and stronger demand offset a report showing oil demand growth will slow next year. [O/R] Continued...