Futures Little Changed Amid Corporate Earnings
Complete. Here is the key summaryGlobal futures showed mixed performance as investors weighed corporate earnings and Middle East tensions. Canadian TSX futures were flat, while US Dow futures rose on strong results from Sherwin-Williams and Coca-Cola, contrasting with NASDAQ declines driven by semiconductor weakness. In Asia, Japan's Nikkei dropped 4%, while Hong Kong's Hang Seng gained slightly. Meanwhile, Brookfield raised $2 billion for a Middle East-focused private equity fund.
Futures tracking Canada's blue-chip stocks were muted on Tuesday, as investors assessed corporate earnings and monitored developments in the Middle East conflict.
The TSX finished Monday with a flourish, gaining 199.04 points to 35,568.14.
September futures were flat early Tuesday.
The Canadian dollar poked ahead 0.1 cents to 70.9 cents U.S.
Tech firms and real estate companies, including Celestica and TFI International, beat second-quarter adjusted earnings estimates amid a lineup of results by other companies late on Monday.
Focus is also on fresh corporate earnings, with multiple miners and energy firms, including First Quantum, Cardinal Energy, set to report quarterly results after the bell.
Separately, Brookfield has raised around $2 billion from strategic anchor investors, including Saudi Arabia's sovereign wealth fund, for a private equity fund that will invest in companies in the kingdom and wider Middle East.
ON BAYSTREET
The TSX Venture Exchange zoomed 19.11 points, or 2.2%, Monday to 887.73.
ON WALLSTREET
Futures tied to the NASDAQ Composite dropped in early trading Tuesday, as semiconductor names fell once again, with traders weighing the latest deluge of corporate earnings.
Futures for the Dow Jones Industrials barged ahead 390 points, or 0.7%, to 52,772, as strong earnings from Sherwin-Williams and Coca-Cola boosted the 30-stock benchmark.
Futures for the S&P 500 eked up 2.75 points, or 0.04%, to 7,451.25
Futures for the NASDAQ Composite dumped 205.25 points, or 0.7%, to 27,984.75. Seagate Technology and Astera Labs were also down on the day.
In Japan, the Nikkei 225 was pummeled 4% Tuesday, while in Hong Kong, the Hang Seng gained 0.4%.
Oil prices dipped $1.14 to $81.47 U.S. a barrel.
Gold prices dulled $50.00 to $4,027.00 U.S an ounce.
