(RTTNews) - Canadian stocks could move higher again in early Tuesday morning trading as positive earnings results have sparked U.S. futures. Commodities are also slightly higher.

The Bank of Canada on Tuesday announced that it is maintaining its target for the overnight rate at 0.25 percent, as expected.

Policy makers said the key interest rate can be expected to remain at its current level until the end of the second quarter of 2010, given the overall risks to inflation are tilted slightly to the downside.

Crude oil is up 9 cents to $79.70 per barrel after earlier moving above $80 for the first time in more than a year. Gold added $7.50 to $1,065.60 per ounce and copper was little changed at $2.959.

Barrick Gold Corp. (ABX.TO) said it eliminate 80 positions, primarily in Toronto, over the next six months.

Aastra Technologies Limited (AAH.TO) third-quarter net earnings were C$9.64 million or C$0.71 per share, compared with C$2.60 million or C$0.17 per share posted in the same period a year earlier.

Among the big names across the border, Apple (AAPL) reported a rise in fourth quarter earnings on Monday after the bell. Resuts beat the expectations of analysts.

In economic news, Canadian wholesale sales data dropped 1.4% in August according to data released Tuesday morning. A rise of 1% was expected, compared to a revised increase of 2.57% in July.

Meanwhile, the leading index rose 1.1% in the month of September. Last month’s data showed a revised increase of 1.2%.

On Monday, the S&P/TSX Composite Index gained 33.63 points or 0.29% to close at 11,538.39. With the gain, the market added to the moderate gains seen last week.

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Posted in Categories: Canada, Releases, Stocks, USA.

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