Futures for Canada’s main stock index were subdued on Tuesday as investors awaited more clues on the global monetary policy path, while an uptick in oil prices helped to keep declines in check.
The TSX Composite plummeted 213.2 points, or 1%, to end Monday at 20,871.89
March futures were down 0.1% Tuesday.
The Canadian dollar nicked ahead 0.11 cents to 73.93 cents U.S.
In corporate news, property management service provider Firstservice reported its fourth-quarter results before the opening bell on Tuesday.
On the economic board, Statistics Canada reported the total monthly value of building permits in Canada decreased 14.0% from November to $9.2 billion in December.
Later this morning (about 10 a.m.) the IVEY PMI will be posted from Western University for January.
ON BAYSTREET
The TSX Venture Exchange fell 8.75 points, or 1.6%, Monday to 548.20.
ON WALLSTREET
S&P 500 futures hovered around the flatline Tuesday following a selloff spurred by higher bond yields and worries that the Federal Reserve may not cut rates as much as Wall Street had hoped.
Futures for the Dow Jones Industrials index subsided 13 points to 38,453.
Futures for the S&P 500 eked up 2.5 points, or 0.1%, at 4,964.50.
Futures for the NASDAQ acquired 23.5 points, or 0.1%, to 17,724.75.
Eli Lilly popped 5% on strong earnings driven by weight loss drugs, while shares of Palantir Technologies surged 18% after the company posted a revenue beat in the fourth quarter. NXP Semiconductors rose more than 2% on better-than-expected results.
Tuesday marks around the halfway point of the earnings season, with reports from Amgen, Chipotle Mexican Grill and Ford after the bell.
On the economic front Tuesday, Wall Street will be keeping an eye out for the New York Fed’s household debt and credit report for the fourth quarter. Several central bank speakers are slated to give comments, including Cleveland Fed President Loretta Mester and Boston Fed President Susan Collins.
In Japan, the Nikkei 225 fell 0.5% Tuesday, while in Hong Kong, the Hang Seng Index zoomed 4%.
Oil prices increased 67 cents to $73.45 U.S. a barrel.
Gold prices brightened $2.80 to $2,038.10 U.S. an ounce.