Futures for Canada’s main stock index inched lower on Tuesday as crude oil prices fell on rising stockpiles in the United States and the halting of COVID-19 vaccinations in some countries.
The TSX roared ahead 103.43 points to conclude Monday at 18,954.75, yet another all-time high.
The Canadian dollar eked up 0.06 cents at 80.20 cents U.S.
March futures were down 0.1% Tuesday.
CBC News reports Canada will update its guidelines on AstraZeneca Plc’s COVID-19 vaccine to recommend that it be administered to people aged 65 years and older.
Rogers Communications Inc’s efforts to secure its $20-billion acquisition of Shaw Communications Inc could be insufficient to overcome regulatory hurdles and political opposition amid concerns Canadians face some of the world’s highest phone bills.
CIBC starts coverage on Loop Energy with an outperform rating, and a price target of $20.00
Scotiabank raised the price target on Shaw Communications to $40.50 from $28.50
RBC raised the price target on Stella-Jones to $56.00 from $53.00
On the economic slate, Statistics Canada said foreign investment in Canadian securities totaled $1.3 billion in January, the lowest investment in six months.
Meanwhile, Canadian investors acquired $3.5 billion in foreign securities, down considerably from a $26.9-billion investment in December.
Elsewhere, the Canadian Real Estate Association said home sales recorded over Canadian MLS Systems climbed 6.6% between January and February to set another new all-time record.
ON BAYSTREET
The TSX Venture Exchange jumped 14.1 points, or 1.4%, Monday to 996.3.
ON WALLSTREET
U.S. stock index futures traded mixed early Tuesday a day after the Dow and S&P closed at record highs.
Futures for the Dow Jones Industrials gave back 17 points, or 0.1%, to 32,833.
Futures for the S&P inched up four points, or 0.1%, to 3,962.25.
The NASDAQ Composite index saw its futures gain 72.5 points, or 0.6%, to 13,141.25.
During regular trading hours Monday, the Dow jumped 174 points, notching its 21st record intraday high of the year, and 14th record closing high of 2021. It was also the 30-stock average’s seventh straight positive session — the longest daily winning streak since August.
The S&P 500, meanwhile, gained 0.64% for its fifth straight positive session. The benchmark index hit its 16th intraday high of the year, and 13th record closing high. The NASDAQ was the relative outperformer on Monday, gaining 1.1% and clawing back some of its recent losses.
On Tuesday Lennar and CrowdStrike are among the companies set to report earnings. February retail sales data is also set to be released, in addition to builder sentiment data from the National Association of Home Builders.
Despite the recent records for major averages, there’s growing concern among investors that interest rates may continue to climb, snuffing out the comeback for equities.
Traders will get more guidance from the Federal Reserve on rates and inflation on Wednesday. The central bank kicks off its two-day meeting on Tuesday, followed by a statement and briefing from Chairman Jerome Powell the following day.
Overseas, In Japan, the Nikkei 225 gained 0.5% Tuesday, while in Hong Kong, the Hang Seng advanced 0.7%.
Oil prices dropped 87 cents to $64.52 U.S. a barrel.
Gold prices gained $4.10 to $1,733.30 U.S.