Futures for commodity-heavy Canada's main stock index fell on Tuesday, after crude prices tumbled and as global growth fears and concerns around aggressive U.S. Fed tightening weighed on sentiment.

June futures on the S&P/TSX index were down 0.3% at 6:43 a.m. ET.

Oil prices fell as China's capital Beijing expanded its COVID mass testing, heightening demand concerns and outweighing the prospect of supply disruptions.

The Toronto Stock Exchange's S&P/TSX composite index ended 0.8% lower at 21,011.89 on Monday, its lowest closing level since March 1.

Dow e-minis were down 100 points, or 0.29%, at 6:43 a.m. ET. S&P 500 e-minis were down 12.75 points, or 0.3%, and Nasdaq 100 e-minis were down 44 points, or 0.33%.

 

TOP STORIES

Bombardier Inc said on Monday it would defend itself against a request for arbitration by Alstom SA related to the 2021 sale of the Canadian company's rail division.

Air Canada on Tuesday reported a smaller quarterly loss, as more passengers flew due to an easing of COVID-19 travel restrictions.

ANALYST RESEARCH HIGHLIGHTS

Fairfax Financial Holdings Ltd: CIBC raises target price to C$950 from C$825

Kinaxis Inc: National Bank of Canada raises target price to C$250 from C$225

Southern Energy Corp: Eight Capital initiates with buy rating and C$3 target price

 

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1904.2; +0.58%

US crude: $98.1; -0.45%

Brent crude: $102.1; -0.18%

 

U.S. ECONOMIC DATA DUE ON TUESDAY

0800 Build permits number for Mar: Prior 1.873 mln

0800 Build permits R change mm for Mar: Prior 0.4%

0830 Durable goods for Mar: Expected 1.0%; Prior -2.1%

0830 Durables ex-transport for Mar: Expected 0.6%; Prior -0.6%

0830 Durables ex-defense mm for Mar: Prior -2.6%

0830 Nondefense cap ex-air for Mar: Expected 0.5%; Prior -0.2%

0900 Monthly home price mm for Feb: Prior 1.6%

0900 Monthly home price yy for Feb: Prior 18.2%

0900 Monthly Home Price Index for Feb: Prior 373.3

0900 Caseshiller 20 mm SA for Feb: Expected 1.5%; Prior 1.8%

0900 Caseshiller 20 mm NSA for Feb: Prior 1.4%

0900 Caseshiller 20 yy for Feb: Expected 18.9%; Prior 19.1%

1000 Consumer Confidence for Apr: Expected 108.0; Prior 107.2

1000 New home sales-units for Mar: Expected 0.765 mln; Prior 0.772 mln

1000 New home sales change mm for Mar: Prior -2.0%

1000 Rich Fed Composite Index for Apr: Prior 13

1000 Rich Fed, Services Index for Apr: Prior 9

1000 Rich Fed Manufacturing Shipments for Apr: Prior 9

1030 Texas Service Sector Outlook for Apr: Prior 10.6

1030 Dallas Fed Services Revenues for Apr: Prior 23.4

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory ($1= C$1.27)

(Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel)