Futures tied to Canada's main stock index inched up on Monday, after a surprise job loss in August boosted expectations for a Bank of Canada rate cut later this month.
The TSX Composite Index surged 134.74 points to conclude Friday at 29.050.63. During the short week, the index gained 486 points, or 1.7%.
The Canadian dollar nicked ahead 0.15 cents to 72.42 cents U.S.
Futures were positive 0.2% Monday.
In corporate news, Canadian oil and gas producer Strathcona Resources raised its offer for MEG Energy, seeking to outbid Cenovus Energy.
ON BAYSTREET
The TSX Venture Exchange ballooned 13.03 points, or 1.5%, Friday to 852.78, for a gain on the week of 27.68 points, or 3.34%.
ON WALLSTREET
Stock futures ticked higher on Monday as investors gear up for a data-heavy week that includes two closely watched readings on inflation.
Futures for the Dow Jones Industrials jumped 77 points, or 0.2%, to 45,536.
Futures for the S&P 500 were 16.75 points, or 0.3%, to the good at 6,506.50
Futures for the NASDAQ captured 96 points, or 0.4%, to 23,780.
Investors will be watching the reports to gauge the economy’s resilience, hoping to gauge whether stocks can continue to trade at record highs.
Heading into Monday trading, the S&P 500 is just 0.8% off its most recent record, alongside the technology-heavy NASDAQ Composite and the 30-stock Dow.
Investors are awaiting two critical inflation reports this week for more insight into the health of the economy, after weaker-than-expected hiring data on Friday. The producer price index report for August is due out Wednesday morning, followed by the consumer price index on Thursday.
The data follows the lackluster August jobs report that helped fuel investor hope that the Federal Reserve is all but assured to lower benchmark interest rates at its policy meeting later this month. The jobs figures also raised the prospect of a half-point rate cut.
In Japan, the Nikkei 225 zoomed 1.5% Monday, while in Hong Kong, the Hang Seng strengthened 0.9%.
Oil prices spiked $1.13 to $63.00 U.S. a barrel.
Gold prices captured $2.30 at $3,655.60.10 U.S. per ounce.
