Canadian Stocks Might Open Lower

(RTTNews) - Canadian markets might be slightly lower on Tuesday. Investors are discussing the impact of U.S. President Trump's 50 percent tariff on Canadian autos and steel. The move might disrupt Canadian auto sector and supply chains. The U.S.-Canada trade talks had collapsed last week.

On Monday, TSX gained 94.11 points to close at 36,714.34.

The Crude Oil is declining 2.86 points or 3.38 percent at $82.10. The Gold Futures is declining, while Silver Futures is edging down.

Canada wholesale sales data for July is scheduled to slated for release in the New York session.

The U.S. is planning to widen economic sanctions against Iran, while China, the biggest buyer of Iranian oil, said the sanctions are illegal and it would take measures to protect its right.

Iran said it would further reduce oil exports from the gulf in retaliation for U.S. economic sanctions.

In another move, the Trump administration is planning to increase application fee for H1-B visa issued to foreign professionals seeking to work in the U.S. from $3000 to $103,265. The move is to encourage firms to hire U.S. citizens and pay them more.

Asian stocks rose broadly on Tuesday. China's Shanghai Composite index edged up 0.19 percent to 3,889.44. Hong Kong's Hang Seng index finished marginally lower at 25,511.10.

Japanese markets closed higher. The Nikkei average and the broader Topix index both rose half a percent to close at 65,856.43 and 4,093.67, respectively.

Australian markets rose notably. The benchmark S&P/ASX 200 surged 0.68 percent to 9,164.60. The broader All Ordinaries index closed 0.62 percent higher at 9,374.90.

On the U.S. economic front, the Case-Shiller Home Price Index for June will be revealed at 9.00 am ET. The consensus is 0.1 percent, while it was up 0.1 percent in the prior month.

The U.S. Consumer Confidence for August will be published at 10.00 am ET. The consensus is 90.1, while it was up 90.8 in the prior month.

U.S. Bureau of the Census, U.S. Commerce Department and the Housing and Urban Development Department's New Home Sales for July will be issued at 10.00 am ET. The consensus is for 620K, while it was up 628K in the prior month.