Futures linked to Canada's main stock index rose on Tuesday as investors balanced hopes of U.S. President Donald Trump ending the Iran war with concerns over supply shocks from a prolonged Strait of Hormuz closure.
The TSX shed 25.02 points to end the first session of a short week at 31,934.04.
June futures vaulted 0.8% Tuesday.
The Canadian dollar nicked 0.07 cents to 71.71 cents U.S.
On the economic landscape, Statistics Canada reported January’s gross domestic product edged up 0.1%, marking a second consecutive monthly increase, driven by growth in goods-producing industries.
ON BAYSTREET
The TSX Venture Exchange reversed course and settled 6.02 points Monday to 908.98.
ON WALLSTREET
Stock futures rose on Tuesday as after a new report offered investors hope that the U.S.-Iran war could soon come to an end.
Futures for the Dow Jones Industrials zoomed 499 points, or 1.1%, to 45,964.
Futures for the S&P 500 index advanced 65.25 points, or 1%, to 6,453.50.
Futures for the NASDAQ jumped 197.5 points, or 0.9%. to 23,337.25.
The Wall Street Journal reported that President Donald Trump had told aides he was willing to end military hostilities in the Middle East even if the Strait of Hormuz remained largely shut.
Technology, which has been under pressure since the conflict began, rose broadly in the premarket.
Nvidia climbed 1%, and Microsoft advanced nearly 2%.
Still, crude prices remained higher after Bloomberg reported that Iran struck a Kuwaiti oil tanker in Dubai waters. The Dubai government’s media office said in a post on X that no injuries were reported and that “the safety of all 24 crew members has been secured.”
Tuesday marks the final day of the month. The S&P 500 is down 7.8% in March. If that decline holds, it would be the benchmark’s worst monthly performance since September 2022 — when it plunged 9.3%.
In Japan, the Nikkei 225 ditched 1.6% Tuesday, while in Hong Kong, the Hang Seng edged up 0.2%
Oil prices captured $1.05 to $103.93 U.S. a barrel.
Gold prices brightened $47.90 to $4,573.90 U.S an ounce.
