June 3 Canadian stocks looked set to open lower on Tuesday, with June futures on the S&P TSX index <0#SXF:> down 0.25 percent at 0730 ET.
The index climbed on Monday, helped by bullish Chinese economic data, while Valeant Pharmaceuticals rose as it prepared to go hostile with its takeover bid for Allergan Inc .
Dow Jones Industrial Average futures were down 0.01 percent at 0715 ET, while S&P 500 futures were down 0.23 percent and Nasdaq 100 futures were down 0.17 percent.
No major Canadian economic data is due for release.
Element Financial Corp has agreed to buy PHH Corp's auto fleet leasing business for about $1.4 billion in cash, and will issue $1.1 billion in capital to pay for the deal, the two companies said on Monday.
Canada and the European Union are struggling to finalise a multibillion-dollar trade pact six months after political leaders said it was sealed, an embarrassment for Brussels as it seeks a far bigger deal with the United States.
COMMODITIES AT 0715 ET
Gold futures : $1,245.7; +0.16 pct
US crude : $102.39; -0.08 pct
Brent crude : $108.51; -0.29 pct
LME 3-month copper : $6,861.75; -1.02 pct
ANALYST RESEARCH HIGHLIGHTS
Enerflex Ltd : CIBC raises price target to C$23 from C$21; rating sector performer
Calfrac Well Services : CIBC cuts target to C$22.50 from C$45; sector outperformer
Nordion Inc : CIBC raises target to C$14.25 from C$13.50; sector underperformer
U.S. ECONOMIC DATA DUE ON TUESDAY
0855 Redbook mm: Prior +0.7 pct
0855 Redbook yy: Prior +3.2 pct
0945 ISM-New York index for May: Prior +627.4
1000 Durables Ex-Def, R mm for April: Prior -0.8 pct
1000 Durable goods, R mm for April: Prior +0.8 pct
1000 Factory orders mm for April: Expected +0.5 pct, prior +0.9 pct
1000 Durables ex-transport R mm for April: Prior +0.1 pct
1000 Nondef cap ex-air R mm for April: Prior -1.2 pct
1000 Factory ex-transport mm for April: Prior +0.4 pct
1000 IBD economic optimism for June: Prior +45.8
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory
($1= $1.09 Canadian) (Reporting by Mononshila Deka in Bangalore; Editing by Ted Kerr)