News Column

Higher open foreseen

July 15, 2014

Bombardier, Sirius in focus

Canadian stocks were set to open higher on Tuesday

The S&P/TSX composite index gained 45.73 points to end Monday at 15,171.23, with Tuesday futures 0.1% higher.

The Canadian dollar fell 0.18 cents to 93.18 cents U.S. early Tuesday

British carrier Flybe said it had signed a services agreement with Bombardier Inc, making the Canadian planemaker's Q400 the "aircraft of choice" for Flybe's U.K.-branded business.

Canadian resale home prices rose sharply in June, but the pace of 12-month price inflation slowed, the Teranet-National Bank Composite House Price Index showed on Monday.

CIBC raised the price target on Sirius XM Canada to $9.50 from $9.00

Canaccord Genuity raised the rating on Intertain Group to buy from speculative buy, price target to $8


The TSX Venture Exchange fell 2.79 points Monday to 1,020.14.


Wall Street and the U.S. Federal Reserve take centre stage Tuesday as investors look for reassurance that company profits and cheap central bank money will continue to support markets.

Ahead of the opening bell, futures for the Dow Jones Industrials moved 31 points, or 0.2%, higher to 17,009. Futures for the S&P 500 nicked up 1.5 points, or 0.1%, to 1,972.50, and futures for the NASDAQ gained 7.25 points, or 0.2%, to 3,926.50

Goldman Sachs and JPMorgan Chase post quarterly earnings before the opening bell, a day after Citigroup reported earnings that beat expectations and announced a $7-billion U.S. settlement with the federal government over mortgages it sold in the run-up to the financial crisis.

Johnson & Johnson will also report before the opening bell. Intel and Yahoo earnings are due after the close.

Shares in Boeing were up nearly 1% pre-market as the plane maker and its main rival Airbus woo customers at the aviation industry's biggest annual gathering. Valero shares were down nearly 3% after the oil refiner told investors that quarterly earnings would come in below market expectations.

European markets were slipping lower, after Germany's ZEW index of investor sentiment came in weaker than expected. Asian markets were mixed.

Oil prices dipped 75 cents to $100.16 U.S. a barrel

Gold prices jumped $5.30 to $1,312 U.S. an ounce.

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Source: Baystreet Stock Market Update (Canada)

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