Stock futures pointed to a slightly higher opening for stock indices in this country on Tuesday, with the U.S. Congress set to vote on the biggest overhaul of the tax system in more than 30 years.
The S&P/TSX Composite Index was positive 89.66 points to conclude Monday at 16,131.64
The Canadian dollar inched up 0.03 cents to 77.75 cents U.S. Tuesday morning.
March futures inched up 0.01% Tuesday.
Pinnacle Renewable Energy Inc, a wood pellets producer owned by private equity firm Onex Corp, said on Monday it had filed a preliminary prospectus with the Toronto Stock Exchange for an initial public offering of its common shares.
Rogers Communications Inc, which has said it will keep ownership of the Toronto Blue Jays, could look to leasing, licensing and other financial tools to generate value from the Major League Baseball club
TD Securities raised the target price on Inter Pipeline to $35.00 from $33.00
Raymond James raised the price target on Innergex Renewable Energy to $19.00 from $18.50
On the economic front, Statistics Canada said the number of Canadians drawing regular employment insurance numbered 510,000 virtually unchanged from September. While there was little change for the month, the number of Employment Insurance recipients has been on a downward trend since October 2016.
The TSX Venture Exchange ballooned 6.28 points Monday to 807.51
U.S. stock index futures are set for a positive open Tuesday, as investors get ready for a vote on a bill that would slash taxes for corporations.
Futures for the Dow Jones Industrials gained 54 points, or 0.2%, to 24,877
S&P 500 futures acquired three points, or 0.1%, to 2,697.50, while futures on the NASDAQ Composite index gained 1.5 points to 6,536.75
Markets have been rising recently on the back of hopes that the U.S. tax plan would be passed by Christmas. A vote by Congress is expected to occur as soon as Tuesday, with the tax overhaul hoping to slash the federal corporate tax rate from 35% to 21%.
In data news, all the major economic figures are expected to be released at 8:30 a.m. ET, which is set to include housing starts, building permits and the current account data.
Overseas, Japan's Nikkei 225 docked 0.2%. In Hong Kong, the Hang Seng Index jumped 1.3%
Oil prices gained 23 cents to $57.39 U.S. per barrel.
Gold prices fell 80 cents to $1,262.10 U.S. an ounce.