Futures for Canada's main stock index rose on Monday as oil prices gained, with strong economic data from China bolstering hopes of a global economic recovery.
The TSX gained 153.09 points to conclude Friday at points to 16,065.35, limiting the downward swing over the last five sessions to 132.43 points, or 0.82%.
The Canadian dollar inched up 0.07 cents early Monday to 74.80 cents U.S.
December futures triumphed 1% Monday.
ON BAYSTREET
The TSX Venture Exchange gained 9.27 points, or 1.4%, to 686.31.
ON WALLSTREET
Stock futures jumped in early trading on Monday following a four-week losing streak on Wall Street.
Futures for the Dow Jones Industrials climbed 351 points, or 1.3%, to begin Monday at 27,394.
Futures for the S&P 500 hiked 43 points, or 1.3%, to 3,330.25.
Futures for the NASDAQ Composite spiked 194.75 points, or 1.8%, to 101,331.25.
The S&P 500 and the 30-stock Dow were coming off their fourth straight negative week, the broader index shedding 0.6% while the Dow lost 1.8%. It marked the first time since August 2019 that the two benchmarks suffered a four-week losing streak.
The tech-heavy NASDAQ eked out a 1% gain last week, posting its first positive week in four as the technology sector rebounded slightly from the recent deep rout.
Shares of technology stocks continued their rebound in pre-market trading Monday. Apple gained 2% and Tesla rose 3% in early trading.
The pandemic continues to keep investors on edge, but it was unclear whether a rise in cases in certain areas is a sign of resurgence. New daily coronavirus cases topped 1,000 in New York State on Saturday, marking the first time the state’s new infections have broken the 1,000 threshold since early June.
Investors bid up shares on Monday that would benefit from a vaccine and an economic comeback. Carnival Corp and American Airlines were both up more than 4% in pre-market trading.
Still, major averages are on track to post steep losses for September, a historically weak month for stocks. The Dow let go of 4.4%, and the S&P 500 has fallen 5.8%, while the NASDAQ has dropped 7.3%.
Overseas, in Japan, the Nikkei 225 gained 1.3% Monday, while Hong Kong, the Hang Seng index hiked 1%.
Oil prices acquired 13 cents to $40.38 U.S. a barrel.
Gold prices jumped $2.30 to $1,868.60.
