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Futures Up in Abbreviated Session

Futures for stocks in Toronto pointed to a higher opening on Tuesday – the last session before Christmas -- as oil prices rose in low-volume pre-Christmas trading on positive comments from Russia's energy minister.

The TSX Composite Index sneaked up 10.27 points to end Monday at 17,128.71.

The Canadian dollar faded 0.08 cents U.S. to 75.97 cents early Tuesday

March futures eked up 0.1% Tuesday.

Cooperation with the Organization of the Petroleum Exporting Countries would continue "until the market requires it", Russian Energy Minister Alexander Novak said in an interview on Monday.

Markets in Toronto close at 1 p.m. ET for Christmas Eve and is closed on Wednesday for Christmas and Thursday for Boxing Day. Friday is a regular trading day.

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CIBC cut the price target on Semafo to $3.65 from $5.50

ON BAYSTREET

The TSX Venture Exchange rose 5.09 points Monday to 553.93

ON WALLSTREET

U.S. stock index futures pointed to a slightly higher start on Tuesday, building on gains in the record-setting rally into the year-end.

Futures for the Dow Jones Industrials took on 25 points, or 0.1%, Tuesday to 28,575

Futures for the S&P 500 gained two points, or 0.1%, at 3,229.25.

Read: The Next Billion Dollar Trend In Entertainment

Futures for the NASDAQ Composite advanced 3.75 points to 8,730.25.

The three major averages all posted record closes on Monday. The S&P 500 has risen 2.6% for December and 8.3% for the quarter. It is also on pace for its best annual performance in six years, up 28.6% for 2019 through Monday’s close. If the benchmark ends the year up 31%, it will score the best year since 1997.

The U.S. stock market closes at 1 p.m. ET for Christmas Eve and is closed on Wednesday for Christmas. Thursday and Friday are regular trading days.

Investors cheered the news this week that China is taking action to boost its economy. The country said it will boost imports by cutting tariffs on over 850 products.

Beijing also said it would study additional cuts in the bank reserve-ratio requirements. The moves come as China and the U.S. agreed on a phase one trade deal and the two sides are working to ink the agreement.

On the data front, Richmond Fed manufacturing surveys are due at 10 a.m. ET.

Overseas, in Japan, the Nikkei 225 gained more than nine points Tuesday, while in Hong Kong, the Hang Seng Index docked 0.2%.

Oil prices gained 20 cents at $60.72 U.S. a barrel.

Gold prices gained $4.80 to $1,493.50 U.S. an ounce.