Stock futures pointed to a lower opening for Canada's main stock index
The S&P/TSX Composite remained negative 67.75 points to finish Monday at 15,480.13
The Canadian dollar fell 0.16 cents to 75.38 cents U.S. early Tuesday.
The outgoing chief executive of Canadian Pacific Railway, said to be in advanced talks with a partner to shake up CSX Corp, cannot hire any CP management except its chief of staff, according to details of an agreement published on Monday. Hunter Harrison "cannot solicit or hire the company's employees above the level of manager," apart from chief of staff Mark Wallace, during a 36-month period.
Goldmoney Inc has certified its gold-based financial products as sharia-compliant, the latest firm to combine blockchain technology to tap demand from Islamic investors. The firm began exploring sharia compliance in March of last year.
Teck Resources’ chief executive says the company has held talks with fellow miner Anglo American Plc about sharing port infrastructure at their neighboring copper mines in Chile.
Goldman Sachs raised the price target on Cameco Corp to $12.50 from $11 saying the company boasts a strong and strengthening balance sheet. It also holds long-term contracts that tend to insulate it from short-term fluctuations in the uranium spot price.
CIBC raised the price target on Canfor Pulp Products to $14 from $12 reflecting an improved global pulp supply/demand outlook.
Canaccord Genuity raised the price target on Ivanhoe Mines to $6.00 from $4.75 following its improved resource conversion assumptions and DRC discount revision.
ON BAYSTREET
The TSX Venture Exchange gained 7.49 points Monday to 805.08
ON WALLSTREET
U.S. stock index futures were mixed on Tuesday as a number of companies posted quarterly results.
Ahead of the opening bell, futures for the Dow Jones Industrials eked up two points to 19,737. Futures for the S&P 500 inched up 0.25 points to 2,262.25. NASDAQ futures advanced 4.75 points, or 0.1%, at 5,068.25.
Johnson & Johnson, Verizon, Travelers, DuPont and Alibaba were among the companies that reported earnings before the bell.
Texas Instruments, Alcoa, Capital One, Discover Financial, Intuitive Surgical, Seagate Technology and Stryker are all due to report after the market close.
On the data front, Tuesday will see Purchasing Managers Index, existing home sales and Richmond Fed survey data all due out this morning.
Asia stocks closed mixed, while European issues were marginally higher by noon on the continent.
Oil prices took on 39 cents to $53.14 U.S. a barrel
Gold prices faded $3.20 to $1,212.40 U.S. an ounce.
