Futures for equities in Canada’s largest market rose on Tuesday, tracking gains in both crude and bullion prices and supported by a retreat in bond yields.
The TSX came off its highs of the morning, but remained positive 76.82 points, to close Monday at 18,457.78
The Canadian dollar moved forward 0.33 cents at 79.32 cents U.S.
March futures vaulted 0.7% Tuesday.
BTIG initiates coverage on Curaleaf Holdings with a buy rating and price target of $35
BTIG initiates coverage on Green Thumb Industries with buy rating.
ATB Capital Markets raised the target price on Bombardier to $0.85 from $0.60
ON BAYSTREET
The TSX Venture Exchange gained 12.71 points, or 1.4%, to conclude trading Monday at 931.97
ON WALLSTREET
Stock futures jumped in early trading Tuesday after bond yields declined, causing investors to buy the dip in beaten-up technology shares.
Futures for the Dow Jones Industrial index jumped 118 points, or 0.4%, to 31,894.
Futures for the S&P climbed 35 points, or 0.9%, at 3,854.25.
Futures for the NASDAQ Composite popped 254.75 points, or 2.1%, to 12,552.
Tesla shares popped 5% in pre-market trading, while Apple, Amazon, Microsoft, Netflix and Alphabet all gained at least 2%.
On Monday, the Dow rallied more than 300 points on investor optimism about the economic comeback from the pandemic. Yet tech shares didn’t participate on Monday, with the NASDAQ Composite shedding 2% as a rapid rise in rates caused investors to rotate out of pricey tech shares.
The tech benchmark closed more than 10% below its Feb.12 closing high, falling into correction territory.
Technology shares are set to rebound from sharp losses as bond yields stabilized. The 10-year Treasury yield fell more than six basis points to 1.52%. It traded as high as 1.62% on Monday.
Overseas, In Japan, the Nikkei 225 regained 1% Tuesday, while in Hong Kong, the Hang Seng took on 0.8%.
Oil prices gained 43 cents to $65.48 U.S. a barrel.
Gold prices hiked $25.50 to $1,703.50 U.S.