Bay Street Seen Opening Higher

(RTTNews) - Canadian shares likely to open higher Tuesday morning, tracking steady European markets and higher precious metals prices. A report in Washington post saying that the Trump administration is willing to end U.S. military operations against Iran even if the Strait of Hormuz remains largely closed, is also likely to aid sentiment.

Data from Statistics Canada said the Canadian gross domestic product expanded by 0.2% from the previous month in February of 2026, according to a flash estimate. The expansion is set to extend the 0.1% growth rate from January, which was upwardly revised from the initial estimate of a stall.

Canadian stocks closed slightly down on Monday as investors weighed U.S. President Donald Trump's message indicating progress in ceasefire talks against the consolidation of more U.S. forces in the gulf and Iran showing war-readiness.

The benchmark S&P/TSX Composite Index gained ground early in the session but later lost momentum and traded lower before settling at 31,934.94, down by 25.71 points or 0.08%.

Asian stocks turned in a mixed performance on Tuesday as investors digested conflicting signals from the ongoing war in the Middle East. While U.S. President Donald Trump said talks were "going well," Iran claimed there are no talks, calling Trump's proposals "unrealistic, illogical and excessive."

The major European markets are up firmly in positive territory today amid hopes of an early exit by the U.S. from the Middle East war following a report that the Trump administration is willing to end U.S. military operations against Iran even if the Strait of Hormuz remains largely closed.

In commodities trading, West Texas Intermediate Crude oil futures are down marginally at $102.81 a barrel.

Gold futures are up $50.50 or 1.1% at $4,608.00 an ounce, while Silver futures are up $2.671 or 3.78% at $73.240 an ounce.