Stock futures pointed to a higher opening for Canada’s main stock index on Tuesday, a day after the index posted half a percent gain.
June futures on the S&P TSX index were up 0.35 percent at 7:15 a.m. ET.
No economic events scheduled for the day.
Canada’s main stock index closed higher on Monday as a jump in the prices of crude oil and gold helped oil and gas stocks and mining issues finish higher.
Dow Jones Industrial Average e-mini futures were up 0.21 percent at 7.15 a.m. ET, while S&P 500 e-mini futures were up 0.18 percent and Nasdaq 100 e-mini futures were up 0.27 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Department store operator Hudson’s Bay Co reported a sharply higher fourth-quarter profit, helped by higher same-store sales at its Saks chain and strong digital sales.
Canada has entered into an agreement to sell nearly 73.4 million shares it owns in General Motors Co to Goldman, Sachs & Co, an investment unit of the Canadian government said on Monday.
A former ally of Canadian Prime Minister Stephen Harper goes on trial for fraud and bribery on Tuesday in a case that could damage the governing Conservatives’ chances of winning October’s general election.
COMMODITIES AT 7.15 a.m. ET
Gold futures : $1,217.7; -0.65 pct
US crude : $51.68; -0.88 pct
Brent crude : $57.8; -0.06 pct
LME 3-month copper : $6,015; -0.59 pct
ANALYST RESEARCH HIGHLIGHTS
First Quantum Minerals Ltd : CIBC cuts target price to C$26 from C$28
Lundin Mining Corp : CIBC cuts to sector “underperformer” from “sector performer”
U.S. ECONOMIC DATA DUE ON TUESDAY
0855 Redbook mm: Prior 1.2 pct
0855 Redbook yy: Prior 3 pct
1000 JOLTS job openings for Feb: Expected 5.010 mln; Prior 4.998 mln
1500 Consumer credit for Feb: Expected 12.50 bln; Prior 11.56 bln
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