Canadian Stocks Set For Mixed Open

(RTTNews) - Canadian stocks are likely to open on a mixed note on Tuesday, reacting to quarterly earnings, and the mixed trend in the commodities market. Investors look ahead to the policy announcements from the Bank of Canada and the Federal Reserve, due on Wednesday.

Celestica Inc. reported third-quarter revenue of $5.83 billion and adjusted EPS of $3.30, up 83% and 109%, respectively, compared to the year-ago quarter.

Precision Drilling Corporation is scheduled to report its quarterly earnings later in the day.

BCE Inc. announced that its wholly owned subsidiary, Bell Canada, has inked a deal with La Caisse, an investment firm, which will acquire a 49.9% stake in a newly formed wireless tower infrastructure company for C$2.45 billion. The transaction values the tower company at around C$4.91 billion.

Canadian stocks moved higher on Monday, partially offsetting the losses from the two previous sessions, as investors dissected Iran's announcement of a Qatari delegation's visit to Iran alongside a report from CNN that stated that U.S. forces are readying to launch a fresh operation against Iran.

The benchmark S&P/TSX Composite Index traded positive throughout the session before settling at 35,944.16, up by 155.98 points or 0.44%.

Asian stocks turned in a mixed performance on Tuesday as investors awaited earnings from major U.S. technology companies and the outcome of a slew of central bank meetings this week for direction.

The major European markets are mixed with investors digesting corporate updates and awaiting policy announcements from major central banks.

In commodities, West Texas Intermediate crude oil futures are up $0.10 or 0.1% at $101.86 a barrel.

Gold futures are down $24.70 or 0.61% at $4,013.50 an ounce, while Silver futures are down $0.976 or 1.79% at $53.365 an ounce.