Futures for Canada's main stock index drifted higher on Monday as base and precious metals moved higher, while investors await a week of corporate earnings and the U.S. Federal Reserve's monetary policy decision.
The TSX Composite gained 82.64 points to close Friday at 21,968.02, for a weekly hike of 156 points, or 0.7%.
June futures were up 0.3% Monday.
The Canadian dollar crept up 0.03 cents to 73.26 cents U.S.
Corporate earnings in Canada will also be featured with Cargojet, Gildan Activewear and Barrick Gold among others set to report their quarterly figures throughout the week.
RBC downgraded Enerplus Corp to "sector perform" from "outperform".
ON BAYSTREET
The TSX Venture Exchange gained 8.15 points, or 1.4%, to 586.48, charging ahead on the week 20 points, or 3.6%.
ON WALLSTREET
S&P 500 futures edged higher on Monday morning as the broad index came off its best week in several months. Traders are looking ahead to a week with more corporate earnings, key labor data and a Federal Reserve meeting.
Futures for the Dow Jones Industrials jumped 54 points, or 0.1%, to 38,496.
Futures for the broader index surged 13 points, or 0.3%, to 5,144.50.
Futures for the NASDAQ Composite took on 67.25 points, or 0.4%, to 17,913.
Tesla jumped 9.5% after clearing a key hurdle to rolling out full self-driving technology in China. Apple, one of several big names releasing financial results this week, advanced around 2% on the heels of a bullish upgrade from investment firm Bernstein.
Those moves follow a positive — albeit rocky — week on Wall Street. The S&P 500 jumped 2.7%, notching its best week since November and breaking a three-week negative streak. With a rally of 4.2%, the NASDAQ Composite also saw its best weekly performance going back to November and its first winning week in the last five. The Dow finished the week 0.7% higher.
Domino’s Pizza added 4.6% before the bell after reporting that per-share earnings topped analyst expectations. Beyond Domino’s and Apple, McDonald’s, Coca-Cola and Amazon are also among the major companies sharing quarterly financials this week.
It’s shaping up to be a strong quarter: Of the more than 45% S&P 500-listed firms that have posted results so far, about four out of every five have surpassed expectations.
In Japan, markets were closed for holiday, while in Hong Kong, the Hang Seng moved ahead 0.5%.
Oil prices edged downward 11 cents to $83.74 U.S. a barrel.
Gold prices eked up a dollar to $2,348.20 U.S. an ounce.
