Canadian Shares Might Trend Up At Open

(RTTNews) - Wildfire in Canada, due to dry condition, is raising concerns and air quality alert is already given to the United States. Thousands of residents are evacuated in different provinces.

Tuesday, the Canadian Public Safety Minister Gary Anandasangaree will be introducing a bill on border security.

Canada shares might be gaining on Tuesday. Royal Bank of Canada and TD Bank are on a positive note.

Gold Futures is trending lower at 3,385.27, while it closed at 3,397.2 on the previous day.

Due to de-escalation in tariffs, Bank of America now expects positive excess returns for copper, and projects negative excess returns for WTI and Brent.

The bank predicts positive roll yields for WTI, Brent, sugar, and copper.

On the U.S. economic front, the Commerce Department's Factory Orders for April will be issued at 10.00 am ET. The consensus is for a decline of 3.0 percent, while it was up 4.3 percent in the prior month.

Bureau of Labor Statistics' Job Openings and Labor Turnover Survey or JOLTS for April is scheduled at 10.00 am ET. The consensus is for an increase of 7.10 million, while it was up 7.192 million last year.

European shares are trading mixed. Asian stocks ended mixed on Tuesday. China's Shanghai Composite index rose 0.43 percent to 3,361.98. Hong Kong's Hang Seng index rallied 1.53 percent to 23,512.49.

Japanese markets gave up early gains to end on a flat note. The Nikkei average finished marginally lower at 37,446.81 while the broader Topix index settled 0.22 percent lower at 2,771.11.

Australian markets hit a three-month high. The benchmark S&P/ASX 200 gained 0.63 percent to close at 8,466.70. The broader All Ordinaries index ended 0.62 percent higher at 8,690.90.