News Column

September to begin well

September 2, 2014

Bombardier front and centre

Stock futures pointed to a higher opening for Canada's main stock index on Tuesday.

The S&P/TSX composite index moved higher by 67.56 points to end Friday, week and month at 15,625.73. Futures were higher by 0.1%.

The Canadian dollar trudged lower 0.36 cents to 91.64 cents U.S. early Tuesday.

Markets on both sides of the border were shuttered Monday for Labour Day.

Cameco Corp suspended production at the world's largest uranium mine after the union representing more than 500 workers refused to take the company's offer to workers for a vote.

Bombardier Inc's troubled aerospace business faces more upheaval as a Swedish carrier backed out as the first customer to start commercial flights with its new CSeries jet and the Canadian firm said more senior aerospace executives would be laid off.

Raymond James raised the price target on Athabasca Oil to $9 from $7.50.


The TSX Venture Exchange poked ahead 1.62 points Friday to 1,023.99.


Barring any surprises, the stage is set for a positive open.

Ahead of the opening bell, futures for the Dow Jones Industrials gained 21 points, or 0.1%, to 17,106. Futures for the S&P 500 progressed 2.5 points, or 0.1%, to 2,004, and futures for the NASDAQ tacked on 7.5 points, or 0.2%, to 4,089.50.

Yahoo is a strong performer pre-market. Its shares are rising by about 2% as investors get excited about the upcoming Alibaba IPO, expected to launch next week. Yahoo owns a 24% stake in the Chinese tech giant.

Economically speaking, the U.S. Census Bureau will release data on construction spending later this morning. At the same time, the Institute for Supply Management will release its latest August data on the heath of the manufacturing sector.

European markets are firmly in positive territory in early trading, and Asian markets mostly closed with gains.

Oil prices slipped $1.01 to $94.95 U.S. a barrel

Gold prices sagged $15.80 to $1,271.60 U.S. an ounce.

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Source: Baystreet Stock Market Update (Canada)

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