Futures linked to Canada's main stock index edged up on Monday as precious metals and oil extended gains, signaling continued momentum after the benchmark recorded its biggest daily jump in four months in the previous session.
The TSX popped 476.38 points, or 1.5%, to conclude Friday at 32,470.98. On the week, the index gained 547 points, or 1.7%.
March futures eked ahead 0.1% Monday.
Precious metal prices rose supported by a softer U.S. dollar, with spot gold gaining 0.7% and silver 1.6%, while copper prices also firmed.
In corporate news, U.S. insurer AIG said on Friday after the bell that it has completed the acquisition of a 9.9% stake in Canadian asset manager Onex.
ON BAYSTREET
The TSX Venture Exchange spiked 45.69 points, or 4.7%, to 1,015.34. The Venture struggled during the week, and is 34.74 points, or 3.3%, below the previous Friday’s close.
ON WALLSTREET
U.S. equity futures nudged lower Monday morning as investors awaited critical economic data and another batch of earnings reports following a volatile week that ended with the Dow Jones Industrial Average reaching a key milestone.
Futures for the 30-stock index backpedaled 59 points, or 0.1%, to 50.146.
Futures for the S&P 500 dropped 11.5 points, or 0.2%, at 6,941.25.
Futures for the NASDAQ fell 81 points, or 0.3%, to 25,802.25.
The moves come after the major averages bounced back Friday following sizable losses suffered earlier in the week. The rout was sparked by a sell-off in the tech sector, led by software stocks. Bitcoin also plunged before recovering some as investors took a risk-off posture.
Bitcoin broke back above $70,000 on Friday after sinking below $61,000 Thursday night, while software stocks such as Salesforce finished higher.
The economic docket is light Monday, though several Federal Reserve officials, including Governors Christopher Waller and Stephen Miran, will speak later in the day.
Markets in Japan revived with the Nikkei 225 index ballooning 3.9% Monday, while the Hang Seng in Hong Kong jumped 1.8%.
Oil prices surged 22 cents to $63.77 U.S. a barrel.
Gold prices hiked $57.50 to $5,037.50 U.S an ounce.
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