Canada’s main stock index future 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 China Trade Deal is fully intact. Hopefully, they will continue to live up to the terms of the Agreement,” Trump said in a tweet.
Oil prices were supported by signs of demand recovery as data shows that the historic downturn in the eurozone economy eased again this month as businesses resumed activity across the region.
September futures on the S&P/TSX index were up 0.91% at 7:00 a.m. ET.
On Monday, the Toronto Stock Exchange’s S&P/TSX composite index ended 0.28% higher at 15,516.90.
Dow Jones Industrial Average e-mini futures were up 0.79% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.67% and Nasdaq 100 e-mini futures were up 0.56%.
Air Canada said on Monday it had closed two additional financing deals for net proceeds of C$1.23 billion ($909 million), as it shores up funds to meet expenses amid the coronavirus crisis.
ANALYST RESEARCH HIGHLIGHTS
Airboss Of America Corp: Canaccord Genuity starts with “Buy” rating, target price of C$27.
Canadian Utilities Ltd: RBC raises target price to C$39 from C$38.
Exchange Income Corp: Canaccord Genuity resumes with “buy” rating, C$35 target price.
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1,762; +0.2%
US crude: $41.5; +1.89%
Brent crude: $43.81; +1.69%
U.S. ECONOMIC DATA DUE ON TUESDAY
0800 Build permits R number for May: Prior 1.220 mln
0800 Build permits R change mm for May: Prior 14.4%
0945 Markit Composite Flash PMI for Jun: Prior 37.0
0945 Markit Manufacturing PMI Flash for Jun: Expected 48; Prior 39.8
0945 Markit Service PMI Flash for Jun: Expected 46.5; Prior 37.5
1000 New home sales-unit for May: Expected 0.640 mln; Prior 0.623 mln
1000 New home sales change mm for May: Expected 3.5%; Prior 0.6%
1000 Rich Fed Composite Index for Jun: Prior -27
1000 Rich Fed, Services Index for Jun: Prior -48
1000 Rich Fed Manufacturing Shipments for Jun: Prior -26
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($1= C$1.35) (Reporting by Amal S in Bengaluru; Editing by Vinay Dwivedi)
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