Before the Bell: What every Canadian investor needs to know today

Global shares tumbled for a second day, as sentiment suffered on a range of factors, from uncertainty over U.S. President Donald Trump’s tariff policy and geopolitical tensions to renewed worries about the upheaval to the economy from AI.

After the Supreme Court ruled Trump’s emergency tariffs were unlawful on Friday, the President announced a 10-per-cent across-the-board levy, which came into effect on Tuesday. Trump later said the tariff would be 15 per cent, but it was unclear when, or if, this would apply.

Equities

Wall Street futures climbed higher after all three major U.S. stock indexed ended lower on Monday.

TSX futures fell.

In Canada, investors are getting results from Bank of Nova Scotia and Exchange Income Corp.

On Wall Street, markets are watching earnings from Home Depot Inc. and HP Inc.

Overseas, the pan-European STOXX 600 was down 0.16 per cent in morning trading. Britain’s FTSE 100 gave back 0.16 per cent, Germany’s DAX fell 0.26 per cent and France’s CAC 40 was down 0.08 per cent.

In Asia, Japan’s Nikkei closed 0.87 per cent higher, while Hong Kong’s Hang Seng fell 1.82 per cent.

Commodities

Brent crude was up 0.1 per cent at US$71.57 per barrel as tensions continued to simmer between the U.S. and Iran.

In other commodities, spot gold dropped 1.1 per cent to US$5,172.11 per ounce, snapping a four-session winning streak. U.S. gold futures for April delivery were down 0.6 per cent at US$5,191.50.

Currencies and bonds

The Canadian dollar weakened against its U.S. counterpart.

The day range on the loonie was 72.89 US cents to 73.04 US cents in early trading. The Canadian dollar was down about 0.91 per cent against the greenback over the past month.

The U.S. dollar index, which weighs the greenback against a group of currencies, rose 0.12 per cent to 97.755.

The euro advanced 0.03 per cent to US$1.1789. The British pound climbed 0.06 per cent to US$1.3499.

In bonds, the yield on the U.S. 10-year note was last up at 4.040 per cent.

Economic news

8:15 a.m. ET: U.S. ADP National Employment Report Estimate for Feb. 7.

9 a.m. ET: U.S. S&P Cotality Case-Shiller Home Price Index for December. Analyst estimate is a rise of 0.3 per cent from November and up 1.2 per cent year-over-year.

9 a.m. ET: U.S. FHFA House Price Index for December. Analyst estimate is a rise of 0.3 per cent from November and up 1.8 per cent year-over-year.

10 a.m. ET: U.S. wholesale trade for December.

10 a.m. ET: U.S. Conference Board Consumer Confidence Index for February.

With Reuters and The Canadian Press