Bay Street Seen Opening Slightly Higher

(RTTNews) - Canadian shares may open higher Tuesday morning, riding on firm oil and metal prices. Investors, awaiting trade talks between Canadian and U.S. officials, also look ahead to Bank of Canada's interest rate decision, due on Wednesday.

In earnings news, Celestica Inc. (CLS.TO) reported second-quarter revenue of $2.89 billion, up 21% compared to $2.39 billion for second quarter of 2024.

TFI International (TFI.TO) reported second-quarter EPS of $1.34, compared to $1.71 a year ago.

George Weston reported EPS of $3.06 for the second-quarter, up from $2.93 per share in the year-ago quarter.

Air Canada posted earnings per share of $0.37 in the second quarter of 2025, compared to 0.98 in the corresponding quarter last year.

The Canadian market ended modestly lower on Monday, retreating from last week's record highs, as investors waited for some progress in U.S.-Canada trade talks.

The benchmark S&P/TSX Composite Index settled at 27,405.42, down by 88.93 points or 0.32%.

Asian stocks ended Tuesday's session on a mixed note as investors looked past the U.S.-EU trade deal and awaited the outcome of ongoing U.S.-China talks in Stockholm.

As the August 1 deadline nears, U.S. President Donald Trump said on Monday that most trading partners that do not negotiate separate trade deals would soon face tariffs of 15 percent to 20 percent on their exports to the United States and that some 200 countries would be notified soon of their new "world tariff" rate.

Investors also braced for big tech earnings, key U.S. economic indicators and upcoming Fed and BoJ rate decisions.

European stocks are up firmly in positive territory with investors reacting to a slew of corporate earnings updates and looking ahead to monetary policy announcements from the Federal Reserve and the Bank of Japan.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.27 or 0.4% at $66.98 a barrel.

Gold futures are up $7.90 or 0.23% at $3,317.90 an ounce, while Silver futures are gaining $0.054 or 0.13% at $38.270 an ounce.