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S&P/TSX Composite Index

16,096.07 real time data change up
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Change: 80.39 (0.50%)

S&P/TSX Venture Composite Index

792.96 real time data change up
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Change: 5.34 (0.68%)
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10:07 AM EDT, September 05, 2017
Flat Futures to Begin Tuesday

Futures for stock markets in Canada's largest centre edged lower on Tuesday as traders were cautious due to lingering geopolitical tensions over North Korea's sixth and most powerful nuclear test on Sunday.

The S&P/TSX Composite Index gave back 20.27 points to end Friday and the week at 15,191.60

September futures hesitated 0.2 % on Tuesday morning.

The Canadian dollar added 0.11 cents to 80.68 cents U.S. Tuesday morning.

Cenovus Energy said it would sell its Pelican Lake heavy oil operations in Alberta for $975 million and the oil company is also considering sale of other assets to reduce debt.

The head of a top business lobby said trade negotiators from Canada, the United States and Mexico have made headway on issues including energy, small businesses and telecommunications in talks to revamp the North American Free Trade Agreement

TD Securities cut the price target on Metro Inc. to $44.00 from $49.00

RBC cut the target price on Primero Mining to $0.10 from $0.80

ON BAYSTREET

The TSX Venture Exchange recovered 1.6 points Friday to 778.45

ON WALLSTREET

U.S. stock index futures pointed to a lower open on Tuesday, as geopolitical concerns surrounding North Korea's relationship with the West amplified jitters in market trading.

Ahead of the opening bell, futures for the Dow Jones Industrials faded 60 points, or 0.3%, to 21,920. Futures for the S&P 500 dipped 5.5 points, or 0.2%, to 2,468.75. NASDAQ futures slipped 12.25 points, or 0.2%, to 5,976.

But optimism from the M&A space helped keep investor sentiment in check. On Monday, United Technologies said it had agreed to buy aircraft parts manufacturer Rockwell Collins for $30 billion, including debt.

Geopolitics concerns have resurfaced once again, as markets worldwide were on edge after North Korea conducted its sixth and most powerful nuclear test yet.

Elsewhere, two leading members from the U.S. central bank are set to deliver remarks independently.

Minneapolis Fed President Neel Kashkari will be speaking at the Carlson School of Management in Minneapolis. Meanwhile, the Dallas Business Club will host a conversation with Dallas Fed President Robert Kaplan in the late afternoon in Dallas.

Fed Gov. Lael Brainard spoke earlier on Tuesday, saying the central bank should be cautious about raising interest rates while inflation levels remain low.

The Fed expects to raise rates once more this year, but market participants are not so convinced. Market expectations for a December rate hike are just 42%.

Speaking of data, factory orders are set to be released at 10 a.m. ET.

In Europe, stocks were trading higher by noon on the continent, Japan's Nikkei 225 skidded 0.2% and the CSI 300 in Shanghai gained 0.3%

Oil prices gained 63 cents to $47.92 U.S. per barrel.

Gold prices hiked $5.60 to $1,336 U.S. an ounce.



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