Futures Hit by Lower Resource Prices - InvestingChannel

Futures Hit by Lower Resource Prices

Futures for Canada’s main stock index fell on Tuesday as oil and metal prices took hits from a strong dollar, COVID-19 curbs in China and looming interest rate hikes.

The S&P/TSX hurtled lower 206.06 points, or 1.1%, to close Monday at 18,816.80.

September futures ducked 0.5% Tuesday.

The Canadian dollar dipped 0.19 cents to 76.76 cents U.S.

The federal government on Monday ordered a probe and demanded telecoms companies agree within 60 days to develop communication protocols to keep people better informed, after Rogers Communications suffered an unprecedented national outage, stretching over several days.

ON BAYSTREET

The TSX Venture Exchange gave back nine points, or 1.5%, to 606.38.

ON WALLSTREET

U.S. stock futures fell Tuesday as worries over global economic growth dented investor appetite for risk assets. Wall Street also looked ahead to the start of what could be a difficult earnings season.

Futures for the Dow Jones Industrials submerged 197 points, or 0.6%, early Tuesday to 30,943.

Futures for the S&P 500 plunged 15.5 points, or 0.4%, to 3,841.25.

Futures for the NASDAQ Composite gained 10.25 points, or 0.1%, to 11,894.50.

PepsiCo kicked off the corporate earnings season Tuesday morning, with the snacks and beverages giant reporting a better-than-expected quarterly profit and revenue.

The company also raised its revenue outlook for the year. Delta Air Lines and JPMorgan Chase are among the companies slated to report later this week.

In Japan, the Nikkei 225 collapsed 1.8% Tuesday. In Hong Kong, the Hang Seng subsided 1.3%

Oil prices dropped $4.96 to $99.13 U.S. a barrel.

Gold prices picked up $2.50 to $1,734.20 U.S. an ounce.

Related posts

Advisors in Focus- January 6, 2021

Gavin Maguire

Advisors in Focus- February 15, 2021

Gavin Maguire

Advisors in Focus- February 22, 2021

Gavin Maguire

Advisors in Focus- February 28, 2021

Gavin Maguire

Advisors in Focus- March 18, 2021

Gavin Maguire

Advisors in Focus- March 21, 2021

Gavin Maguire