Futures for stocks in Canada’s largest market fell on Tuesday, putting the main index on track to break a three-day winning streak, as optimism over an interim U.S.-China trade deal waned.
The TSX Composite Index hoisted 53.23 points to close Monday at 17,056.36
The Canadian dollar slumped 0.05 cents U.S. to 75.92 cents early Tuesday
December futures descended 0.2% Tuesday.
Canfor has rejected Great Pacific Capital Corp’s proposal to take it private.
JPMorgan raised the target price on Canadian Pacific Railway to $356.00 from $346.00
CIBC raised the target price on Cineplex to $34.00 from $29.00
JPMorgan raised the target price on First Quantum Minerals to $15.00 from $12.00
Canaccord Genuity cut the target price on Hexo to $2.50 from $2.75.
On the economic slate, Statistics Canada manufacturing sales declined 0.7% to $57.1 billion in October, the second consecutive monthly decrease.
The agency said lower sales in the transportation equipment and fabricated metal product industries were partly offset by higher sales in the petroleum and coal product industry.
ON BAYSTREET
The TSX Venture Exchange gained 1.08 points Monday to 541.61
ON WALLSTREET
U.S. stock index futures pointed to a mixed open on Tuesday as Wall Street tried to build on a four-day winning streak that concluded with the major averages hitting record highs
Futures for the Dow Jones Industrials slid 40 points, or 0.1%, Tuesday to 28,223
Futures for the S&P 500 sank two points, or 0.1%, at 3,196.50. The NASDAQ Composite let go of 2.5 points to 8,603.50.
Dow futures were pressured by a 1% drop in Boeing shares. The stock fell in the pre-market on news the aerospace giant is planning to suspend production of the 737 Max jet.
On the data front, housing starts and building permits for November, and a business leaders’ survey for December will all be released at 8:30 a.m. ET.
Industrial production figures for November will be released at 9:15 a.m. ET, and the latest Job Openings and Labor Turnover Survey (JOLTS) is set to follow shortly thereafter.
Overseas, in Japan, the Nikkei 225 popped 0.5% Tuesday, while in Hong Kong, the Hang Seng Index spiked 1.2%.
Oil prices improved 22 cents at $60.43 U.S. a barrel.
Gold prices gained $2.20 to $1,482.70 U.S. an ounce.