Futures for Canada’s main stock index rose on Monday, led by gains in crude oil and bullion prices, despite concerns about a slowing Canadian economy.
The TSX climbed the elevator and gained 360.34 points, or 1.9%, to end Friday and the week at 19,773.34. Over a week shortened by Labor Day, the index jumped 502 points, or 2.6%.
Futures rose 0.6% early Monday.
The Canadian dollar edged up 0.19 cents to 76.97 cents US
ON BAYSTREET
The TSX Venture Exchange added 8.43 points, or 1.3%, to 645.57, a week-on-week jump of 13.5 points, or 2.14%.
ON WALLSTREET
Stock futures rose on Monday as Wall Street eagerly awaits key inflation data to be released this week.
Dow Jones Industrials futures rose 93 points, or 0.3%, early Monday to 32,358.
S&P 500 futures gained 21.5 points, or 0.5%, to 4,107.25
Futures for the NASDAQ composite index edged 74.75 points, or 0.6%, to 12,745.
Stocks have been volatile ahead of the Federal Reserve’s September meeting, where the central bank is expected to make its third straight rate hike of 0.75 percentage points in a bid to tackle high inflation.
Wall Street investors have been looking for signs that the size of future rate hikes could be smaller as inflation cools, Fed Chairman Jerome Powell reiterated last week that he was “strongly committed to lower inflation
This week, investors are eagerly awaiting the August Consumer Price Index report, which is expected to be released on Tuesday. The report is one of the last inflation data the Fed will see before its September meeting. Retail sales and industrial production reports will be released on Thursday.
Disney shares were higher in premarket trading
Dan Loeb, activist investor and hedge fund manager Third Point, tweeted that he would no longer push Disney to part ways with ESPN.
In Japan, the Nikkei 225 index gained 1.2% on Monday, while in Hong Kong markets were closed for the holidays.
Oil prices gained 54 cents to US$87.33 a barrel.
The price of gold rose $14.30 to US$1,742.90 an ounce.
