Futures tied to Canada’s main stock index fell on Tuesday, mirroring Wall Street peers, as investors kept their focus on U.S. corporate earnings and the upcoming Bank of Canada’s monetary policy decision.
The TSX fell back 99.21 points to close Monday at 24,723.33.
December futures slumped 0.5 Tuesday.
The Canadian dollar inched up 0.03 cents to 72.32 cents U.S.
In corporate news, transportation and logistics company TFI International reported its third-quarter results where it missed revenue and profit estimates.
On the economic calendar, Statistics industrial product price index fell 0.6% month over month in September and decreased 0.9% year over year, while its raw materials price index declined 3.1% month over month in September and fell 8.8% year over year.
ON BAYSTREET
The TSX Venture Exchange forged higher 1.34 points Monday to 623.01.
ON WALLSTREET
Stock futures fell Tuesday, putting Wall Street on track for another losing session, as a back-up in interest rates overshadowed a solid start to earnings reporting season.
Futures for the Dow Jones Industrials slid 168 points, or 0.4%, to 43,008.
Futures for the S&P 500 bowed 23.75 points, or 0.4% to 5,872.50
Futures for the NASDAQ Composite Index fell 92 points, or 0.5%, to 20,427.50.
General Motors shares were up nearly 3% after the automaker reported third-quarter results that beat analyst expectations and raised its full-year outlook.
Jefferies sees less downside ahead than previously expected for Tesla stock.
While analyst Philippe Houchois has a hold rating, he upped his price target on the electric vehicle maker by $30 to $195. Still, that implies the stock will tumble 10.9% over the next year from Monday’s close.
During Monday’s trading session, the 30-stock Dow fell more than 344 points, or 0.8%, after three consecutive winning sessions. The S&P 500 declined about 0.2%, while the NASDAQ Composite added close to 0.3%.
The market has been on a hot streak in October with the S&P 500 reaching a record and stretching its year-to-date gain to beyond 22%. A loss in Tuesday’s session would be the first back-to-back losing session for the benchmark since early September.
In Japan, the Nikkei 225 fell 1.4% Tuesday, while in Hong Kong, the Hang Seng inched up 0.1%.
Oil prices gained 66 cents to $71.22 U.S. a barrel.
Gold prices hiked $8.80 to $2,747.70