Futures for Canada's main stock index rose on Monday, led by gains in crude oil and bullion prices, despite concerns over a slowdown in the Canadian economy.
The TSX climbed the elevator and gained 360.34 points, or 1.9%, to conclude Friday and the week at 19,773.34. Over a week shortened by Labour Day, the index jumped 502 points, or 2.6%.
Futures hiked 0.6% early Monday.
The Canadian dollar inched up 0.19 cents to $76.97 cents U.S.
ON BAYSTREET
The TSX Venture Exchange added 8.43 points, or 1.3%, to 645.57, a jump on the week of 13.5 points, or 2.14%.
ON WALLSTREET
Stock futures rose Monday as Wall Street looks ahead to key inflation data to be released this week.
Futures for the Dow Jones Industrials shot higher 93 points, or 0.3%, early Monday to 32,358.
Futures for the S&P 500 picked up 21.5 points, or 0.5%, to 4,107.25
Futures for the NASDAQ Composite Index tacked on 74.75 points, or 0.6%, to 12,745.
Stocks have been volatile ahead of the September meeting of the Federal Reserve, where the central bank is expected to deliver its third consecutive 0.75-percentage-point rate hike in an effort to combat high inflation.
Wall Street investors had been looking for signs that the size of future rate hikes might be smaller as inflation cools off, Fed Chair Jerome Powell last week reiterated that he is “strongly committed” to bringing down inflation
This week, investors are looking ahead to the August consumer price index report, scheduled to be released Tuesday. The report is one of the last pieces of data on inflation the Fed will see ahead of its September meeting. Retail sales and industrial production reports will be released Thursday.
Disney shares were higher in premarket trading
Activist investor and Third Point hedge fund manager Dan Loeb indicated in a tweet that he’s going to no longer push Disney to spin off ESPN.
In Japan, the Nikkei 225 index gained 1.2% Monday, while in Hong Kong, markets were shuttered for holiday.
Oil prices gained 54 cents to $87.33 U.S. a barrel.
Gold prices pressed higher $14.30 to $1,742.90 U.S. an ounce.
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