Futures linked to Canada’s main stock index fell on Monday as crude prices slipped, while investors exercised caution ahead of key U.S. inflation data due later this week.
The TSX Composite Index popped 245.72 points, or 1.1%, to close Monday at 23,027.15.
September futures on the S&P/TSX index declined 0.3% Tuesday.
The Canadian dollar eased 0.03 cents to 73.69 cents U.S.
In corporate news, Fission Uranium’s shareholders voted in favor of Paladin Energy’s proposed acquisition of the Canadian resource company, the Australian miner said.
ON BAYSTREET
The TSX Venture Exchange perked 3.74 points Monday to 548.96.
ON WALLSTREET
Stock futures were mostly flat Tuesday after the major averages rebounded from their worst week in 2024.
Futures for the Dow Jones Industrials faded 18 points, or 0.04% to 40,864.
Futures for the S&P 500 slid 0.75 points at 5,478.75.
Futures for the NASDAQ dipped 29 points, or 0.2%, to 18,663.25.
Cloud platform company Oracle surged about 8% after posting fiscal first-quarter results that topped expectations. Oracle also announced a partnership with Amazon Web Services to provide database services.
On Monday, the three major averages made a sharp comeback after posting their worst week this year as investors bought the dip. The S&P 500 popped 1.16% to snap a four-day run of losses and post its first winning day in September. The NASDAQ Composite also closed 1.16% higher, aided by a jump in Nvidia. The Dow climbed 484 points, or 1.2%.
September is historically a weak month for equities. Investors remain cautious about seasonality’s effect on stock performance as well as uncertainty around the approaching U.S. presidential election on Nov. 5.
In Japan, the Nikkei 225 gave back 0.2% Tuesday, while in Hong Kong, the Hang Seng gained 0.2%.
Oil prices fell 79 cents to $67.92 U.S. a barrel.
Gold prices moved higher $1.70 to 2,534.40.
