Stock futures pointed to a higher opening for Canada's main stock index on Monday, tracking gains in Asian and European markets, after last week's strong U.S. jobs report helped ease investor jitters over a potential global trade war.
The S&P/TSX Composite Index dropped 17.96 points to close Friday and the week at 16,043.54
The Canadian dollar strengthened 0.22 cents to 77.5 U.S. early Monday
June futures gained 0.2% Monday
Citigroup raised the price target on Bank of Montreal to $120 from $116
IA Securities raised the rating on Dollarama Inc. to buy from hold
ON BAYSTREET
The TSX Venture gained 2.84 points Friday to 765.94
ON WALLSTREET
U.S. stock index futures pointed to a higher open Monday, after a jobs report that topped expectations sent equities rallying in the previous session.
Futures for the Dow Jones Industrials zoomed 135 points, or 0.6%, to 24,765
S&P 500 futures gained 9.5 points, or 0.4%, to 2,718.75, while futures for the NASDAQ composite index improved 21.5 points, or 0.3%, to 7,104.50
The move higher on Monday comes after the Dow rallied more than 200 points on Friday following the release of a stronger-than-expected jobs report.
The U.S. economy added 223,000 jobs in May — much higher than the 188,000 figure expected by analysts. Traders are now looking at the so-called JOLTS data (job openings and labour turnover survey), due Tuesday, to confirm the strength of the labour market.
Dell Technologies is due to release its latest figures before the opening bell. Palo Alto Networs and Coupa Software are set to release their earnings after the close.
On the data front, there will be April factory orders numbers due at 10 a.m. ET.
Despite the positive mood, trade concerns continued to linger after U.S.-China trade talks yielded no major breakthroughs. China threatened that previous trade agreements negotiated by the countries "will not take effect" if the U.S. administration goes ahead with a planned tariff increase.
In Japan, the Nikkei 225 jumped 1.4%, while in Hong Kong, the Hang Seng Index climbed 1.7% Monday.
Oil prices dipped 28 cents to $65.53 U.S. per barrel.
Gold prices gained $1.30 to $1,300.60 U.S. an ounce.
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