Futures tracking Canada's blue-chip stocks edged higher on Monday, steadying after recent jitters in the tech sector, while escalating U.S.-Iran tensions and a domestic inflation report later in the day kept investors cautious.
The TSX backslid 76.3 points to conclude Friday at 35,263.85. On the week, the index surrendered 41.4 points, or 0.11%.
Futures sprang up 0.3% early Monday.
The Canadian dollar barely moved from its perch of 71.33 cents U.S.
On the economic slate, Statistics Canada reported the consumer price index increased 2.8% year over year in June, following a 3.2% gain in May. On a seasonally adjusted monthly basis, the CPI fell 0.1% in June.
ON BAYSTREET
The TSX Venture exchange peeked ahead 52 points, to 854.89. The index slumped more than 57 points, or 5.6%, on the week.
ON WALLSTREET
Stock futures rose Monday as oil prices fluctuated in response to the latest bout of military exchanges between the U.S. and Iran. Chipmakers also traded higher to give U.S. equity markets a boost.
Futures for the Dow Jones Industrials gained 216 points, or 0.4%, to 52,591
Futures for the S&P 500 picked up 40.5 points, or 0.6%, to 7,538.25
Futures for the NASDAQ Composite hiked 311.5 points, or 1.1%, to 29,084.75
Among semiconductors, NXP Semiconductors, Teradyne and AMD rose more than 2% each.
The U.S. completed its ninth consecutive day of strikes on Iran overnight, but investor sentiment improved by midmorning in London after Iranian Foreign Ministry spokesman Esmail Baghaei lifted hopes for a diplomatic settlement.
Baghaei told reporters that intermediaries had continued to exchange messages with Iran amid the latest round of U.S. strikes, and said negotiations between the two adversaries could be pursued based on national interests.
In Hong Kong, the Hang Seng jumped 2.4%, while markets in Japan were closed for holiday.
Oil prices dipped $1.80 to $80.69 U.S. a barrel.
Gold prices gained $16.00 to $4,034.80 U.S an ounce.
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