Futures linked to Canada's main stock index kicked off the week on a positive note as gold prices gained, while investors awaited domestic GDP data and U.S. big tech earnings for more clues on the health of their economies and markets.
The TSX Composite Index leaped 206.78 points to conclude Friday at 22,814.81. On the week, the index gained 124 points, or 0.55%.
The Canadian dollar dipped 0.1 cents to 72.22 cents U.S.
September futures were up 0.3% Monday.
Meanwhile, progress has been made suppressing fires in Jasper, with the remaining ones expected to be put out by the end of the day, authorities said on Saturday.
ON BAYSTREET
The TSX Venture Exchange regained 5.69 points Friday to 579.33, losing 0.8 points, or 0.1%.
ON WALLSTREET
Stock futures rose Monday as Wall Street gears up for a busy week of corporate earnings.
Futures for the Dow Jones Industrials vaulted 148 points, or 0.4%, to 40,979.
Futures for the S&P 500 index grabbed 21.25 points, or 0.4%, at 5,520.25.
Futures for the NASDAQ picked up 115.75 points, or 0.6%, to 19,290.25.
The recent cooling off of the tech trade has dragged the major market indexes lower, but the catch-up of areas like small caps has been encouraging to many market strategists.
This week’s earnings parade will play a role in determining whether tech stocks can now bounce back. Microsoft, Meta Platforms, Apple and Amazon are all set to report their quarterly results in the coming days.
Another key event this week will be the Federal Reserve meeting, with the central bank set to release a new policy statement on Wednesday. The Fed is not expected to cut interest rates this week, but traders will be looking for clues as to how likely the central bank is to make a move at its September meeting.
In Japan, the Nikkei 225 gained 2.1% Monday, while in Hong Kong, the Hang Seng index picked up 1.3%.
Oil prices slipped 34 cents to $76.82 U.S. a barrel.
Gold prices hiked $5.80 to $2,386.80
