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Futures take header on growth outlook

Baystreet.ca
Futures for Canada's main stock index dipped on Tuesday, tracking world markets, as investors fretted ...

Futures for Canada's main stock index dipped on Tuesday, tracking world markets, as investors fretted over a weakening outlook for global economic growth.

The S&P/TSX Composite Index tumbled 60.5 points to end Friday and the week at 15,946.17

The Canadian dollar dropped 0.23 cents to 76.94 cents U.S. early Tuesday

December futures tumbled 0.6% Tuesday

Markets in Canada were closed for Thanksgiving

Raymond James raised the price target on Canadian Pacific Railway to $340.00 from $305.00

BMO raised the target price on Suncor Energy to $65.00 from $60.00

IA Securities cut the target price on Supremex Inc. to $4.50 from $5.25

On the economic slate, Canada Mortgage and Housing Corporation reported housing starts fell to 188,683 in September from a revised 189.843 in August.

ON BAYSTREET

The TSX Venture Exchange moved higher Friday 2.66 points to 705.69

ON WALLSTREET

U.S. stock index futures fell on Tuesday as concerns over rising interest rates dampened investor sentiment once again.

Futures for the Dow Jones Industrials fell 136 points, or 0.5%, to 26,408

S&P 500 futures surrendered 15.5 points, or 0.5%, to 2,878.25, while futures for the NASDAQ composite dropped 42.5 points, or 0.6%, to 7,349.25

Markets were closed Monday for Columbus Day

AZZ Inc. and Helen of Troy Limited are among the firms reporting earnings today.

The benchmark 10-year Treasury note yield rose to 3.25% and hit its highest level since 2011. The longer-term 30-year bond yield also reached its highest mark since 2014.

Overseas, in Japan, the Nikkei 225 plummeted 1.3% Tuesday, while in Hong Kong, the Hang Seng lost 0.1%

Oil prices picked up 44 cents to $74.73 U.S. a barrel.

Gold prices soared $2.60 to $1,191.20 U.S. an ounce.