Futures tied to Canada’s main stock index edged up on Monday after three consecutive sessions of losses for the TSX, as investors assessed fragile U.S.-Iran peace talks.
The TSX Composite Index faded 111.92 points to close Friday at 34,857.34. On the week, the index dropped 80.5 points, or 0.2%.
June futures eked up 0.1% Monday.
The Canadian dollar was static at 70.54 cents U.S.
The United States and Iran made "encouraging progress" at the first round of talks aimed at reaching a final peace deal, mediators said on Monday, although tension persisted over Lebanon and the Strait of Hormuz.
On the economic calendar, Statistics Canada reports its consumer price index increased 3.2% year over year in May, up from an increase of 2.8% in April. On a seasonally adjusted monthly basis, the CPI rose 0.5% in May.
ON BAYSTREET
The TSX Venture Exchange lost 8.18 points Friday to 954.71. On the week, the index was down 4.5 points, or 0.47%.
ON WALLSTREET
U.S. equity futures were little changed Monday as Wall Street assessed the latest developments in the Iran war negotiations and awaits the release of inflation data closely watched by the Federal Reserve.
Futures for the Dow Jones Industrials slid five points Monday to 52,002.
Futures for the S&P 500 index dipped 8.5 points, or 0.1%, to 7,562.50.
Futures for the NASDAQ Composite gained 17.75 or 0.1%, to 30,737.50.
Brent oil futures turned negative on Monday after mediators Qatar and Pakistan said that U.S. and Iranian officials had agreed on a roadmap to reach a final deal within 60 days.
International benchmark Brent crude futures for August gained in early Asian trading, then fell 1.6% to $79.30 a barrel. U.S. West Texas Intermediate futures for July pared a 3% jump in earlier trading to be about 0.8% lower at $76.
The U.S. stock market was closed on Friday for the Juneteenth holiday.
Apogee Therapeutics surged 48% before the open Monday after AbbVie announced it was acquiring the clinical-stage biotech company for about $10.9 billion.
In Japan, the Nikkei 225 advanced 1.6% to a new high Monday, while in Hong Kong, the Hang Seng -retreated 0.7%.
Oil grabbed 24 cents to $76.84 U.S. a barrel.
Gold prices faded $20.00 to $4,225.90 U.S an ounce.
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