Canadian shares look headed for a negative start Tuesday morning, tracking weak global markets and the surge in U.S. Treasury yields.
Asian markets ended mostly lower and the major European stocks are down with notable losses now, suggesting an extended slide for the Canadian market early on in the session.
Slightly higher commodity prices may help limit downside. Investors will be tracking earnings news and other corporate announcements for some direction.
The Canadian market ended on a weak note on Monday, retreating from record highs hit a session earlier. The benchmark S&P/TSX Composite Index ended down 146.90 points or 0.76% at 19,204.42, after drifting down to a low of 19,180.01.
Asian stocks ended broadly lower on Tuesday, as concerns over surging coronavirus cases in the region and the possible restrictions on economic activity in several countries dented investor optimism about a global economic recovery.
European stocks are lower, coming off the record highs reached a day earlier, amid rising bond-yields and the surge in coronavirus cases around the world.
In commodities, West Texas Intermediate Crude oil futures are up $0.25 or 0.35% at $63.63 a barrel.
gold futures are up marginally at $1,771.80 an ounce, while Silver futures are rising $0.091 or 0.33% at $25.298 an ounce.
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