Futures Little Changed Tuesday



Futures linked to Canada’s main stock index were flat on Tuesday as investors awaited fresh U.S. data and comments from Federal Reserve officials to gauge the monetary policy outlook.

The TSX Composite Index fell 51.22 points to close Monday at 21,587.88.

The Canadian dollar deleted 0.2 cents to 72.72 cents U.S.

Futures were down 0.01% Tuesday.

In corporate news, a U.S. appeals court on Monday handed Michigan’s attorney general a jurisdictional victory in her bid to force Enbridge to stop operating the Line 5 oil pipeline underneath the Straits of Mackinac in the Great Lakes by allowing her to pursue her case in state rather than federal court.

A Brookfield-led consortium entered into an agreement to invest in Gems Education, partnering with the Varkey Group.

ON BAYSTREET

The TSX Venture Exchange dipped 1.16 points Monday to 572.93.

ON WALLSTREET

S&P 500 futures are near flat Tuesday morning after a winning day on Wall Street as investors gear up for May retail sales data.

Futures for the Dow Jones Industrials dropped 36 points, or 0.1%, to 39,196.

Futures for the much-broader index sank 0.75 points at 5,545.50.

Futures for the NASDAQ Composite moved ahead 29.5 points, or 0.2%, to 20,222.25.

Those moves follow a positive session on Wall Street that propelled the S&P 500 higher by nearly 0.8%, while the NASDAQ Composite finished with a gain of almost 1%. Both indexes reached all-time highs during the session and closed at records. The 30-stock Dow advanced about 0.5% to end four days of losses.

Tech stocks performed well in the session, helping the tech-heavy NASDAQ outperform and aiding the broader S&P 500’s rise. Notably, Broadcom climbed more than 5%, while Apple jumped around 2%.

Nvidia touched an all-time intraday record as State Street said the chipmaker would likely see a weighting of more than 20% in the rebalance of its popular exchange-traded fund focused on tech. But the stock rolled over, ending the day down 0.7%. Despite that pullback, shares are still up nearly 165% on the year.

Looking ahead, investors will closely watch retail sales data for May due Tuesday morning for insights into the health of the consumer. Economists polled by Dow Jones forecasted growth of 0.2% from April.

In Japan, the Nikkei 225 regained 1% Tuesday, while the Hang Seng in Hong Kong dived 0.1%.

Oil prices dipped 0.03 cents to $80.30 U.S. a barrel.

Gold prices fell $4.60 to $2,324.40 U.S. an ounce.



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