Futures Go South Tuesday
The TSX Composite slid 80.91 points to conclude Monday at 19,743.94.
December futures stumbled 0.5% early Tuesday.
The Canadian dollar settled 0.24 cents at 72.76 cents U.S.
Crescent Point Energy agreed to acquire Hammerhead Energy in a cash-and-stock deal valued at $2.55 billion.
On the economic docket, Statistics Canada reports in September, Canada's merchandise exports increased 2.7%, while imports rose 1.0%. As a result, Canada's merchandise trade surplus widened from $949 million in August to $2.0 billion in September.
ON BAYSTREET
The TSX Venture Exchange lost 6.18 points, or 1.2%, Tuesday, to 519.07.
ON WALLSTREET
Stock futures slipped early Tuesday as a recent rally on Wall Street looked poised for a pause.
Futures for the Dow Jones Industrials slumped 86 points, or 0.3%, to 34,078.
Futures for the S&P 500 fell 10 points, or 0.2%, at 4,374.25.
Futures for the NASDAQ dipped 7.75 points, or 0.1%, to 15,224.75.
Stocks eked out a gain Monday, with the tech-heavy NASDAQ earning its seventh-straight positive session for the first time since January. Both the S&P 500 and the 30-stock Dow were higher for the sixth-straight session, an occurrence not seen since June and July, respectively.
Wall Street is assessing whether the rally from last week can continue after all three indices wrapped their best week in 2023. The November uptick contrasts a weak October in which the S&P 500 slipped into correction territory. Investors grew optimistic after the Federal Reserve left interest rates unchanged following their meeting last week, which also saw Treasury yields slide and stocks climb.
In economic developments, a report on the U.S. trade deficit is expected on Tuesday morning. Elsewhere, quarterly results from Disney, Wynn Resorts and Occidental Petroleum are due out this week.
In Japan, the Nikkei 225 dumped 1.3%, while in Hong Kong, the Hang Seng flopped 1.7%.
Oil prices retreated $1.64 to $79.18 U.S. a barrel.
Gold prices darkened $23.60 to $1,965 U.S. an ounce.
Provided Content: Content provided by Baystreet. The Globe and Mail was not involved, and material was not reviewed prior to publication.
