U.S. stock futures were pointing higher Tuesday, boosted by strong third-quarter results from Apple and DuPont.
Computer maker Apple reported a 67% rise in quarterly profit on Monday after the close of regular trading.
DuPont’s third-quarter net income increased 8.5% on strong international results that more than offset lower U.S. demand, and the chemicals maker raised its 2007 earnings forecast.
In Canadian economic news, after two consecutive decreases in June and July, total retail sales increased 0.7% in August to an estimated $34.5 billion. Although sales in all eight retail trade sectors were up, sales by new car dealers led the way, rising 3%, Statistics Canada said today.
The Canadian dollar opened at US103.22¢, up 1.22 cents from Monday’s close.
In other earnings news, Canfor Pulp Income Fund said its third-quarter profit rose to $16.5 million from $8.4 million.
CN Rail reported its third-quarter net income fell to $485 million, down 2% from the same time in 2006, and warned that the unexpectedly strong Canadian dollar will be a drag on the company and its customers in the coming months.
Texas Instruments reported below-forecast profit and sales in the third quarter and forecast lower current quarter sales than analysts had predicted.
American Express reported an 11% profit rise.
Oil giant BP reported a 29% profit decline, though Europe’s largest oil producer’s results weren’t as bad as analysts had forecast.
After the close of trade, Amazon.com will also report results.
Crude-oil prices rose 5¢ at US$86.53 a barrel, while gold futures rose $3.60 to US$763.60 an ounce.
Overseas stock markets were stronger, with the FTSE 100 up 1.4% in London, while the Hang Seng rose 3.5% in Hong Kong.
Stocks in Canada and the United States moved into positive territory on Monday following Friday’s big selloff.
After dipping by 100 points at several points in the morning, the S&P/TSX composite index turned around to finish with a gain of 41.9 points, or 0.30%, closing at 14,043.6.
The junior S&P/TSX Venture composite index lost 31.21 points, or 1.04%, to close at 2,978.81.
In New York, U.S. stocks rose on Monday, rebounding from last week’s steep sell-off.
The Dow Jones industrial average was up 44.95 points, or 0.33%, to end at 13,566.97. The S&P 500 was up 5.70 points, or 0.38%, to finish at 1,506.33. The tech-heavy Nasdaq composite index was up 28.77 points, or 1.06%, to close at 2,753.93.