Bay Street Likely To Open On Sluggish Note

(RTTNews) - Subdued Canadian futures indicate a somewhat sluggish start on Bay Street Tuesday morning. Investors will be reacting to a slew of corporate earnings announcements in addition to following news about "progress" in U.S.-Iran talks to end the ongoing war in the Middle East.

In Canadian earnings news, Celestica Inc. reported on Monday that it posted earnings per share of $3.68 in the second quarter of its current financial year, compared with earnings per share of $1.92 in the year-ago quarter.

TFI International reported earnings per share of $1.85 for the second-quarter, compared with $1.34 a year ago.

Gibson Energy's earnings per share for the second-quarter came in at $0.48, as against $0.37 a year ago.

Great West Lifeco, Intact Financial, Centerra Gold, Precision Drilling and Trican Well Services are scheduled to report their second-quarter earnings today.

Canadian stocks advanced on Monday, extending the gains from Friday's session after a pause in the U.S.-Iran attacks over the weekend raised expectations of a diplomatic solution to the Middle East conflict.

After opening higher than the previous week's close, the benchmark S&P/TSX Composite Index remained volatile throughout the session but gained momentum later and settled at 35,568.14, up by 199.04 points or 0.56%.

Asian stocks ended mixed on Tuesday, with tech-heavy Japan and South Korea leading losses amid doubts over returns from billions of dollars of artificial-intelligence spending.

Investors also waited cues from big tech earnings and a Federal Reserve decision on Wednesday.

The major European markets are up firmly in positive territory now with some strong earnings news and optimism about fresh negotiations between Iran and the U.S. to end the Middle East conflict aiding sentiment.

In commodities trading, West Texas Intermediate Crude oil futures are down $1.17 or 1.4% at $81.44 a barrel.

Gold futures are down $48.50 or 1.19% at $4,028.50 an ounce, while Silver futures are down $1.207 or 2.06% at $57.505 an ounce.