Baystreet.ca - Futures tied to Canada's main stock index rose on Tuesday, supported by crude prices, with a major focus on Bank of Nova Scotia (TSX:BNS)'s quarterly results that commences the earnings season for top domestic lenders.
The TSX demurred 57.67 points to close Monday at 25,590.33
December futures sprang up 0.2% Tuesday.
The Canadian dollar gained 0.04 cents to 71.24 cents U.S.
Scotiabank reported a higher fourth-quarter profit, as it set aside a smaller amount in rainy-day funds and earned more from interest.
The top Canadian banks over the past year had to set aside more money for bad loans as clients struggled with mortgage and loan payments due to high interest rates and elevated living costs.
ON BAYSTREET
The TSX Venture Exchange settled 1.25 points Monday to 613.01.
ON WALLSTREET
Stock futures were little changed early Tuesday after the S&P 500 concluded the first trading session of the month at a record closing high.
Futures for the Dow Jones Industrial average backed off 15 points to 44,889.
Futures for the broader index inched higher 1.5 points to 6,063.25
Futures for the NASDAQ Composite Index dipped nine points to 21,209.
Investors awaited the October job openings report on Tuesday. It is the first in a salvo of data releases expected this week that can provide insight into the strength of the labor market. The main event will be Friday’s November payrolls report.
The data arrives ahead of the Federal Reserve’s policy meeting on Dec. 17-18. Fed funds futures are currently pricing in a nearly 75% probability that the central bank lowers interest rates during its policy gathering
On the earnings front, investors will follow releases from Salesforce and Okta (NASDAQ:OKTA) due after the bell.
In Japan, the Nikkei 225 vaulted 1.9% Tuesday, while in Hong Kong, the Hang Seng surged 1%.
Oil prices eked higher 0.81 cents to $68.91 U.S. a barrel.
Gold prices acquired $7.50 to $2,660 U.S. an ounce.