Futures on equity markets in Canada rose on Monday after a dip in oil prices tempered inflation worries, while investors awaited key U.S. inflation data due later in the week.
The TSX gained 183.82 points to end Friday at 35,789.09. On the week, the index gained 169 points, or 0.48%.
The Canadian dollar improved 0.09 cents to 70.92 cents U.S.
Futures popped 0.7% Monday.
Brent crude fell 1.8% to $96 after U.S. President Donald Trump downplayed the likelihood of renewed strikes on Iran, though attacks on ships near the Strait of Hormuz kept supply concerns in focus.
Markets are pricing in an 80% chance for the Fed to hike interest rates again in its December meeting.
Barrick Mining posted a rise in third-quarter profit as higher gold prices outweighed the impact of a decline in production
Strathcona Resources said on Sunday it would acquire Greenfire Resources in a deal valued at about $2.7 billion to $2.9 billion, including debt, as the oil producer expands its presence in Alberta's oil sands region
ON BAYSTREET
The TSX Venture Exchange popped 15.71 points, or 2%, Friday to 822.03. The index pushed ahead 18.25 points, or 2.27%, last week.
ON WALLSTREET
Stock futures surged early on Monday, boosted by a decline in oil prices, as traders keeping a close eye on technology shares after last week’s volatility. Investors also awaited the release of key inflation data and earnings from major artificial intelligence companies this week.
Futures for the Dow Jones Industrials spiked 490 points, or 1%, early Monday, to 51,875.
Futures for the S&P 500 grabbed 44.75 points, or 0.6%, to 7,446.75.
Futures for the NASDAQ Composite moved skyward 132.75 points, or 0.5%, at 27,218.
The tech sector will also be focused on the bombshell announcement Sunday that Nvidia’s board of directors is opening an investigation into co-founder and CEO Jensen Huang’s relationship with a businesswoman who U.S. intelligence agencies say is a Chinese spy. Nvidia shares were down 5% in U.S. premarket trading.
This week, investors are looking ahead to key AI-related earnings — CoreWeave, Cisco and Applied Materials are all on deck — as they assess the outlook for tech and whether the recent selloff has further to run.
They’ll also watch for the releases of both the consumer price index on Tuesday and the producer price index on Friday, looking for clues on the Fed’s next move.
On Monday, traders will get September wholesale inventories data at 10 a.m. ET. Take-Two Interactive Software, Occidental Petroleum, KKR, Constellation Energy and Skydance are scheduled to report quarterly earnings.
In Japan, the Nikkei 225 roared upward 2.3% Monday, while in Hong Kong, the Hang Seng fell back 0.1%.
Oil prices docked $2.57 to $88.26 U.S. a barrel.
Gold prices hiked $54.90 to $4,129.80 U.S an ounce.
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