Oil rally takes a breather: What you need to know before markets open

, International

North American markets could be in for a mixed open this morning as oil prices steadied after touching a six-month high.

North American markets could be in for a mixed open this morning as oil prices steadied after touching a six-month high.

Oil prices were off about 0.2 per cent after rallying nearly 3 per cent to a shade below US$50 as supply disruptions in Nigeria and positive outlook from Goldman Sachs boosted risk appetite.
Wall Street closed up 1 percent on Monday, also boosted by a jump in Apple’s shares. Apple was up 0.7 per cent at $94.55 in premarket trading on Tuesday. U.S. consumer prices recorded their biggest increase in more than three years in April as gasoline and rents rose, pointing to a steady inflation build-up that could give the Federal Reserve ammunition to raise interest rates later this year.U.S. housing starts rose more than expected in April as builders ramped up the construction of single and multi-family homes, supporting views that the economy was regaining steam early in the second quarter.Statistics Canada says manufacturing sales fell 0.9 per cent to $50.0 billion in March, due to lower sales of transportation equipment and primary metals.Hudson’s Bay Co will expand in Europe by taking over 20 department stores in the Netherlands, it said on Tuesday.Brazilian planemaker Embraer SA may challenge the state funding received by Canadian rival Bombardier Inc at the World Trade Organization (WTO), a senior executive told Reuters on Monday.PokerStars owner Amaya Inc’s quarterly profit more than doubled as the company added customers, expanded its online casino offerings and invested in its online sportsbook, results showed on Monday.Home Depot was up 1.6 per cent at US$137.50 after the home improvement company raised its full-year sales growth and profit forecast.TJX Cos Inc, the owner of off-price chain T.J. Maxx, reported a 9.9 per cent rise in quarterly sales as value-conscious shoppers flocked to its stores for off-priced clothes and accessories.

© Thomson Reuters 2016

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