Futures for Canada's main stock index edged lower on Tuesday, in line with their Wall Street peers, as investors were wary ahead of U.S. inflation data this week that would offer clues on the timing of interest rate cuts.

The TSX Composite gained 137.37 points to close Monday at 21,074.91.

March futures fell 0.4% Tuesday.

The Canadian dollar dipped 0.07 cents to 74.85 cents U.S.

Canaccord Genuity downgraded Enthusiast Gaming Holdings stock to "hold" from "speculative buy".

Cannabis company Tilray Brands reported a 34% rise in second-quarter revenue.

On the economic board, Statistics Canada reported building permits decreased 3.9% from October to $10.9 billion in November. in November. In November, Canada's merchandise imports increased 1.9%, while exports were down 0.6%. As a result, Canada's merchandise trade surplus with the world narrowed from $3.2 billion in October to $1.6 billion in November. This represents a fourth consecutive monthly trade surplus.

ON BAYSTREET

The TSX Venture Exchange acquired 4.81 points Monday to 551.56.

ON WALLSTREET

U.S. stock futures fell Tuesday as rates ticked higher, zapping momentum from a tech-led jump in the previous session.

Futures for the Dow Jones Industrials tumbled 142 points, or 0.4%, to 37,790.

Futures for the S&P 500 sank 17.75 points, or 0.4%, at 4,783.50.

Futures for the NASDAQ dropped 89.25 points, or 0.5%, to 16,714.50.

Shares of Juniper Networks popped more than 23% in premarket trading Tuesday after a report said HPE could announce a deal to acquire the networking hardware company for about $13 billion as soon as this week. Unity Software’s stock price gained 2.4% after the company said it would lay off roughly 25% of its workforce, and Netflix shares declined about 2% on a Citi downgrade.

Later this week, investors will parse through a pair of key inflation readings to gain clarity into the path forward for rate cuts from the Federal Reserve. The December consumer price index is set for release Thursday, followed by the producer price index on Friday.

In Japan, the Nikkei 225 gained 1.2%, while in Hong Kong, the Hang Seng Index lost 0.2%.

Oil prices gained $2.03 to $72.80 U.S. a barrel.

Gold prices took on $7.90 to $2,041.40 U.S. an ounce.