(INCLUDES RETAIL SALES)
Futures for Canada's main stock index rose on Tuesday, a day after the benchmark index touched a three-week low, aided by a rebound in crude prices.
The S&P/TSX Composite plummeted 200.97 points, or 1.7%, to close Monday at 20,538.22.
The Canadian dollar acquired 0.05 cents to 77.35 cents U.S.
March futures were ahead 0.8% Tuesday.
A silver mine owned by Pan American Silver in Argentina was back in limbo on Monday after the provincial government repealed a mining law approved last week.
CIBC cut the rating on Bank of Montreal to neutral from outperform.
Scotiabank raised the target price on Canadian National Railway to $166.00 from $160.00
National Bank of Canada cuts target to $12.25 from $13.50
On the economic board, Statistics Canada reported retail sales for October were up 1.6% to $57.6 billion. The increase was led by higher sales at motor vehicle and parts dealers (+2.2%), as new car dealer sales (+2.8%) rebounded. Sales increased in seven of 11 sub-sectors, representing 59.9% of retail trade.
New housing prices for November were also due for release Tuesday.
ON BAYSTREET
The TSX Venture Exchange slumped 11.15 points, or 1.3%, Monday to 882.63.
ON WALLSTREET
Futures pointed to a rebound for stocks on Tuesday following three-days of losses amid fears about the fast-spreading COVID omicron variant.
Futures for the Dow Jones Industrials hiked 320 points, or 0.9%, to 35,133.
Futures for the S&P 500 jumped 47.25 points, or 1%, to 4,605.75.
Futures for the NASDAQ leaped 194.75 points, or 1.3%, to 15,816.
Reopening plays saw some relief buying on Tuesday. Royal Caribbean, Carnival, Wynn Resorts were all bouncing by about 1% in pre-market trading Tuesday.
Micron shares surged nearly 8% pre-market after the memory-chip maker posted much better than expected earnings for the prior quarter and gave bullish guidance. The company expects earnings of $1.95, plus or minus 10 cents, this period, a range higher than the consensus estimate of $1.84 collected by FactSet.
Other chipmakers gained in pre-market trading with KLA Corp. up 3% and Nvidia up 2%.
Nike shares jumped 3% in pre-market trading after the sneaker maker reported quarterly earnings and sales that exceeded analysts’ expectations, despite ongoing supply chain pressures.
The omicron surge has kept investors on edge with the variant now found in at least 43 U.S. states and 90 countries. Officials with the World Health Organization said omicron is more contagious than any previous variant of Covid-19. It accounted for 73% of new infections in the U.S. last week, federal health officials said Monday.
The National Hockey League is beginning its holiday break early because of COVID outbreaks postponing games.
Overseas, in Japan, the Nikkei 225 regained 2.1% Tuesday, while the Hang Seng in Hong Kong up 1%.
Oil prices strengthened $1.01 to $69.82 U.S. a barrel.
Gold prices added $3.20 to $1,797.80 U.S. an ounce.
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