Stocks Set to Open Higher, For a Change

Suncor, Canadian Tire in Focus

Canada's main stock index was set to open higher on Tuesday after its worst session in nearly two years, but the sentiment remained fragile due to worries over global economic growth.

The S&P/TSX Composite collapsed 633.59 points, or 3.1%, to end a volatile Monday session at 19,999.69.

June futures recovered 0.8% Tuesday

The Canadian dollar improved 0.11 cents to 76.98 cents U.S.

Suncor Energy exceeded analysts' estimates for first-quarter profit and boosted dividend by 12% to its highest level on Monday, as Canada's number-three oil major benefited from soaring crude prices.

CIBC cut the target price Canadian Tire Corporation to $220.00 from $244.00

RBC raised the target price on Ensign Energy Services to $6.50 from $6.00

CIBC cut the target price on Morguard Corp. to $165.00 from $180.00


The TSX Venture Exchange let go of 50.16 points, or 6.5%, to wrap up Monday at 719.81


U.S. stock futures rose Tuesday morning, as the S&P 500 attempted to rebound after falling to its lowest level in more than a year.

Futures for the Dow Jones Industrials got their groove back, tacking on 181 points, or 0.6%, to 32,342.

Futures for the S&P 500 added 25 points, or 0.6%, to 4,012.56.

Futures for the NASDAQ Composite Index popped 132 points, or 1.1%, to 12,325.75.

On the earnings front, shares of Peloton Interactive plummeted 22% before the bell after reporting a wider-than-expected loss in the recent quarter.

Shares of AMC rose more than 6%, while Novavax dropped about 23% on the back of recent quarterly earnings.

Coinbase, Roblox, RealReal and Allbirds are expected to report earnings after the bell.

Markets in Japan continued to slide, as the Nikkei 225 descended 0.6% Tuesday. In Hong Kong, the Hang Seng returned to trading after a long weekend, but lost 1.8%.

Oil prices fell $1.01 to $102.08 U.S. a barrel.

Gold prices hiked $2.10 to $1,860.70 U.S. an ounce.