Advertisement
Canada markets open in 2 hours 7 minutes
  • S&P/TSX

    22,011.72
    +139.76 (+0.64%)
     
  • S&P 500

    5,070.55
    +59.95 (+1.20%)
     
  • DOW

    38,503.69
    +263.71 (+0.69%)
     
  • CAD/USD

    0.7308
    -0.0013 (-0.17%)
     
  • CRUDE OIL

    82.74
    -0.62 (-0.74%)
     
  • Bitcoin CAD

    90,898.96
    +381.02 (+0.42%)
     
  • CMC Crypto 200

    1,435.05
    +10.95 (+0.77%)
     
  • GOLD FUTURES

    2,328.50
    -13.60 (-0.58%)
     
  • RUSSELL 2000

    2,002.64
    +35.17 (+1.79%)
     
  • 10-Yr Bond

    4.5980
    -0.0250 (-0.54%)
     
  • NASDAQ futures

    17,701.25
    +94.50 (+0.54%)
     
  • VOLATILITY

    15.84
    +0.15 (+0.96%)
     
  • FTSE

    8,083.82
    +39.01 (+0.48%)
     
  • NIKKEI 225

    38,460.08
    +907.92 (+2.42%)
     
  • CAD/EUR

    0.6834
    -0.0002 (-0.03%)
     

Futures Slide after Long Weekend

Futures for Canada's main stock index were down on Tuesday, as oil prices fell due to the ongoing U.S.-China trade dispute as well as rising oil output by Russia and members of the Organization of the Petroleum Exporting Countries

The S&P/TSX Composite gained 57.58 points to end Friday, the week and month at 16,399.32. The gain during those last five winning sessions was an incredible 404 points, or 2.5%.

The Canadian dollar dived 0.2 cents to 74.83 cents U.S. early Tuesday

September futures slid 0.2% Tuesday.

Greece's new conservative government will soon issue permits for Canadian miner Eldorado Gold's development in northern Greece

Enbridge said it reached an agreement with shippers to place the Canadian portion of the Line 3 replacement pipeline into service by the end of this year.

Hudson's Bay Company will close its Dutch stores by the end of 2019, laying off some 1,400 employees, the Dutch business daily Financieel Dagblad reported on Saturday.

JPMorgan raised the target price AltaGas Canada to $23.00 from $22.00

Cowen and Company cut the target price on Cronos Group to $17.00 from $21.00

Eight Capital raised the target price on Denison Mines to $1.80 from $1.70

On the economic front, Markit Canada was set to release its manufacturing Purchasing Managers Index for August around 9:30 a.m. ET.

ON BAYSTREET

The TSX Venture Exchange surged 8.21 points, or 1.4%, to 589.36, a gain on the week of 7.4 points, or 1.27%

ON WALLSTREET

U.S. stock index futures were sharply lower Tuesday after the world’s two largest economies began imposing new tariffs on one another’s goods.

Futures for the Dow Jones Industrials dropped 191 points, or 0.7%, early Tuesday to 26,218

Futures for the S&P 500 ditched 18.5 points, or 0.6%, at 2,906.25

NASDAQ Composite futures fell 55.25 points, or 0.7%, to 7,635.50

Markets were closed Monday for Labour Day

Chipmakers such as Nvidia fell 1.3%, and Skyworks Solutions let go of 0.5%, in the pre-market. Retail stocks Ulta Beauty, Tiffany and Nike all traded lower before the bell. Boeing and Caterpillar both declined more than 1% along with Apple.

On the data front, manufacturing Purchasing Managers’ Index figures for August will be released at around 9:45 a.m. ET. The Institute for Supply Management’s (ISM) manufacturing index for August and construction spending data for July will be released slightly later in the session.

The U.S. imposed 15% tariffs on a variety of Chinese goods on Sunday, while China imposed new charges on U.S. products from September 1. It marked the latest escalation in their long-running trade war.

Both countries have imposed tariffs on billions of dollars worth of one another’s goods since the start of 2018, battering financial markets and souring business and consumer sentiment.

Overseas, in Japan, the Nikkei 225 picked up five points Tuesday, while in the Hong Kong, the Hang Seng index dipped 0.4%

Oil prices lost a dollar to $54.10 U.S. a barrel.

Gold prices regained $9.60 to $1,539.00 U.S. an ounce.