Bay Street Likely To Open On Positive Note

(RTTNews) - Higher crude oil and bullion prices and firm U.S. futures point to a positive start for the Canadian market on Tuesday. Investors look ahead to Bank of Canada's interest rate decision, and U.S. consumer price inflation data this week.

The Canadian central bank is widely expected to lower interest rate by 25 basis points tomorrow, amid trade uncertainty with the U.S. If the rate cut happens, then it will be the seventh consecutive reduction by the central bank.

Telesat (TSAT.TO) and French telco Orange announced that they have joined forces to offer new satellite connectivity options through a commercial partnership.

Under the agreement, a Telesat Lightspeed Landing Station will be hosted at Orange's teleport in France. Orange has also signed a capacity commitment for Telesat Lightspeed Low Earth Orbit (LEO) service, which will be integrated into its global portfolio of services for businesses and telecom operators.

Canadian stocks closed sharply lower on Monday and the benchmark S&P/TSX Composite Index tumbled to a four-month low, as worries about global economic growth amid U.S. President Donald Trump's tariff moves weighed on the market.

The S&P/TSX Composite Index ended down 378.05 points or 1.53% at 24,380.71. The index tumbled to a low of 24,249.96 in the final hour.

Asian stocks ended lower on Tuesday amid fears that the U.S. economy could be slipping into a recession, particularly in light of ongoing tariff disputes.

However, regional markets ended off their day's lows after a White House spokesperson downplayed recession fears and said corporate leaders have pledged "trillions in investment commitments" that will create thousands of new jobs.

European stocks are turning in a mixed performance in cautious trades as investors look for directional clues. Uncertainty about the U.S. Government's trade policy and concerns about global economic growth continue to weigh on sentiment.

In commodities, West Texas Intermediate Crude oil futures are up $0.85 or 1.29% at $66.88 a barrel.

Gold futures are gaining $19.40 or 0.67% at $2,918.30 an ounce, while Silver futures are up $0.460 or 1.41% at $32.990 an ounce.