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TSX Futures Step Back
The TSX gained 29.88 points to conclude Monday at 24,789.28, a new three-week high.
December futures lost 0.4% Tuesday.
The Canadian dollar dipped 0.09 cents to 71.81 cents U.S.
Canada's materials sector remained in focus as gold and copper prices fell over 1% to a two-month low on a stronger dollar.
The energy sector also drew attention as oil prices edged higher, with investors awaiting OPEC's monthly report for further price direction. However, disappointment over China's latest stimulus plan and oversupply concerns limited gains.
In corporate news, Warehouse landlord Segro would buy six Tritax EuroBox properties in Germany and the Netherlands for 470 million euros ($499.1 million U.S.) as part of a deal with Brookfield Asset Management Ltd.
On the economic plate, building permits increased by $1.3 billion (+11.5%) to $13.0 billion in September.
ON BAYSTREET
The TSX Venture Exchange dived 7.85 points, or 1.3%, to 601.39.
ON WALLSTREET
Stock futures slipped Tuesday as Wall Street continued analyzing which sectors to pour money into amid a postelection rally that’s sent equities to record levels.
Futures for the Dow Jones Industrials slumped 36 points, or 0.1%, to 44,407.
Futures for the S&P 500 eased 10 points, or 0.2%, to 6,021,75.
Futures for the NASDAQ Composite Index stumbled 38 points, or 0.2%, to 21,179,75.
Monday’s action comes amid a market upswing that began following last week’s presidential election won by Donald Trump. The Dow gained more than 300 points to close higher than 44,000, while the S&P 500 finished the session just over 6,000. With that, Monday marks the first time either finished a trading day above those respective levels.
Market participants will then turn attention to consumer and producer price index readings scheduled for later in the week. The release of data from these inflation gauges comes after the Fed last week announced another interest rate cut.
Traders will also parse earnings releases from Home Depot and Shopify expected on Tuesday.
In Japan, the Nikkei 225 subsided 0.4% Monday, while in Hong Kong, the Hang Seng skidded 2.8%.
Oil prices took on 51 cents to $68.55 U.S. a barrel.
Gold prices lost $13.40 to $2,604.30 U.S. an ounce.
