Stocks in Canada’s largest market were hoping Tuesday to pull out of a negative session inflicted on it on Monday
The S&P/TSX Composite Index fell 54.44 points to end Monday at 15,128.69
The Canadian dollar gained 0.15 cents to 80.07 U.S. early Tuesday
ON BAYSTREET
The TSX Venture Exchange skidded 3.65 points Friday to 760.88.
ON WALLSTREET
Futures for the Dow Jones Industrials leaped early Tuesday, boosted by earnings reports that largely beat Wall Street expectations.
Ahead of the opening bell, futures for the Dow vaulted 111 points, or 0.5%, to 21,610. Futures for the S&P 500 added seven points, or 0.3%, to 2,475.50. NASDAQ futures jumped 8.25 points, or 0.1%, to 5,942.25
Caterpillar and United Technologies both posted bottom line results that topped estimates, sending futures for the 30-stock index higher by 100 points.
Caterpillar shares jumped more than 4% after the company's report was released. General Motors, McDonald's and Biogen also saw their shares climb after reporting quarterly results.
Google-parent Alphabet and 3M shares, however, slipped in the pre-market despite topping Wall Street expectations.
Wall Street also turned its eyes towards the Federal Reserve. The Federal Open Market Committee (FOMC) is set to begin the first day of its two-day meeting on Tuesday, where the U.S. central bank is expected to look at the current health of the U.S. economy, and contemplate on what they should do next in terms of strategy, interest rates and their balance sheet.
Key economic data expected to come out on Tuesday include the Philadelphia Fed's non-manufacturing business outlook survey is due out early this morning.
This will then be followed by the FHFA Home Price Index and S&P CoreLogic Case-Shiller Home Price Index. Then, at 10 a.m. ET, consumer confidence data and the Richmond Fed's Survey of Manufacturing Activity are due.
European markets traded in the black approaching noon Tuesday on the continent, while the Nikkei 225 in Japan demurred 0.1%, and Shanghai’s CSI 300 sagged 0.6%.
Oil prices gained 86 cents to $47.20 U.S. per barrel.
Gold prices sank $1.70 to $1,252.60 U.S. an ounce.
