Jul 29, 2025 (Baystreet.ca via COMTEX) --
Futures tied to Canada's main stock index rose on Tuesday, tracking gains in gold and energy prices, while investors assessed corporate earnings and awaited trade deals with the U.S. ahead of Friday's tariff deadline.
The TSX Composite Index unloaded 88.93 points by the end of Monday's session at 27,405.42.
Futures were up 0.5% Tuesday.
The Canadian dollar descended 0.10 cents to 72.71 cents U.S.
A much-anticipated European Union-U.S. trade agreement was announced on Sunday. However, the initial relief over Europe's 15% levy on exports to the U.S. quickly soured when set against the 1% to 2% that stood before U.S. President Donald Trump took office.
ON BAYSTREET
The TSX Venture Exchange dropped 11.7 points, or 1.5%, to conclude Monday at 789.43.
ON WALLSTREET
Stock futures moved higher on the heels of the S&P 500 and NASDAQ Composite eking out yet another record despite a market rally failing to materialize.
Futures for the Dow Jones Industrials gathered 40 points, or 0.1%, to 45,052.
Futures for the much broader gained 15.75 points, or 0.3%, to 6,438.56.
Futures for the NASDAQ jumped 105.25 points, or 0.5%, to 23,596.50.
The moves come after the broad market index and the Nasdaq hit new all-time and closing highs during Monday's trading session, just barely seeing gains. It was the 15th record close for the broad market index in 2025. The S&P 500 ultimately finished the day just above the flatline, while the 30-stock Dow ticked down by 0.1%. The NASDAQ ended 0.3% higher, by contrast.
The S&P 500's initial moderate gains earlier in the day followed President Donald Trump's announcement Sunday that the U.S. has struck a trade deal with the European Union, an agreement that will impose 15% tariffs on most goods imported from Europe, including automobiles.
The president also said Monday that the baseline global tariff rate will be "in the range of 15 to 20%."
While investors effectively looked past the U.S.-EU trade deal, they will be watching for any other potential deals between the U.S. and other countries, such as China, to be announced by Friday's tariff deadline. Top U.S. and Chinese officials met in Stockholm Monday for another round of trade talks.
Tariffs and inflation will remain a focal point throughout the week in other areas as well.
The Federal Reserve is set to offer its decision on interest rates Wednesday following its two-day policy meeting. Central bank policymakers are widely expected to keep their benchmark overnight policy rate steady in a range of 4.25% to 4.5%.
This week also marks the busiest week of earnings season, with more than 150 S&P 500 companies due to report. That includes several "Magnificent Seven" companies, namely Meta Platforms and Microsoft slated for Wednesday as well as Amazon and Apple for Thursday.
Additionally, UPS, Procter & Gamble, Merck and Boeing are among several names reporting before the bell Tuesday.
In Japan, the Nikkei 225 index slid 0.8% Tuesday, while in Hong Kong, the Hang Seng lost 0.2%
Oil prices removed two cents to $66.69 U.S. a barrel.
Gold prices picked up $7.90 to $3,317.90 U.S. an ounce.
COMTEX_467649096/2559/2025-07-29T07:57:36
