(MENAFN- Baystreet.ca) Futures for Canada's main stock index inched up on Tuesday, supported by firmer gold prices against the backdrop of global growth concerns.
The S&P/TSX Composite gained 154.26 points, or 1%, to end Monday at 16,304.05
The Canadian dollar was unchanged at 75.04 cents U.S. early Tuesday
September futures were up 0.1% Tuesday.
CIBC raised the rating on AGF Management to outperform from neutral.
On the economic beat, Statistics Canada said manufacturing sales fell 1.2% to $58.0 billion in June, following a 1.6% increase in May.
The agency says the petroleum and coal product and food industries weighed down sales in June, while the primary metal industry posted the largest increase.
ON BAYSTREET
The TSX Venture Exchange finished Monday negative 0.58 points to 569.85
ON WALLSTREET
U.S. stock index futures were little changed on Tuesday as Wall Street's rebound from last week's selloff was set to pause.
Futures for the Dow Jones Industrials gained 29 points, or 0.1%, to 26,147.
Futures for the S&P 500 improved three points, or 0.1%, at 2,926.75
NASDAQ futures added 8.5 points, or 0.1%, to 7,736
Home Depot kept losses in check before the bell. The home improvement retailer reported better-than-expected earnings on Tuesday, sending its stock up 1% in the pre-market. However, Home Depot warned tariffs could hit consumer spending and cut its full-year revenue outlook.
The Washington Post and New York Times both reported the Trump administration was discussing a cut to payroll taxes as a way to mitigate slower economic growth. A White House official pushed back on the reports, saying cutting payroll taxes 'is not something under consideration at this time.'
On Wednesday, the Federal Reserve is scheduled to publish its latest meeting minutes. Investors are also likely to closely monitor the Fed's Jackson Hole seminar and a G7 summit later in the week for clues on monetary policy settings.
On the data front, the Philly Fed non-manufacturing numbers will be out Tuesday morning.
Overseas, in Japan, the Nikkei 225 gained 0.6% Tuesday, while in the Hong Kong, the Hang Seng index lost 0.2%
Oil prices faded 20 cents to $56.01 U.S. a barrel.
Gold prices jumped $3.10 to $1,514.70 U.S. an ounce.
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