The TSX Composite rose 32.92 points to conclude Friday at 21,255.61. On the week, the index gained 250 points, or 1.9%.
March futures were static Tuesday.
The Canadian dollar sagged 0.09 cents to 74.15 cents U.S.
Corporate earnings continue to gain momentum with Canadian miners, including First Quantum amongst other companies, set to report their quarterly results during the week.
In corporate news, Loblaw said today it expected to invest more than C$2 billion this year to create more than 7,500 jobs.
Markets were closed Monday for Family Day.
On the economic front, Statistics Canada says January’s consumer price index hiked 2.9% on a year-over-year basis in January, down from a 3.4% gain in December. On a seasonally adjusted monthly basis, the CPI fell 0.1% in January.
ON BAYSTREET
The TSX Venture Exchange gained 4.27 points Friday to 556.76, for a gain on the week of nine points, or 1.65%.
ON WALLSTREET
S&P 500 futures moved lower early Tuesday as the market comes off its first losing week in more than a month.
Futures for the Dow Jones Industrials dropped 100 points, or 0.3%, to 38,597.
Futures for the S&P 500 sank 14.5 points, or 0.3%, at 5,005.25.
Futures for the NASDAQ retreated 63 points, or 0.1%, to 17,681.
Financial stocks were in view Tuesday following a blockbuster announcement in Capital One Financial is reportedly purchasing Discover Financial Services in an all-stock deal worth $35.3 billion, which is expected to close in late 2024 or early 2025. Capital One slumped 3.5% in premarket trading following the announcement, while Discover jumped 16.3%.
In separate deal news, Walmart announced it will acquire TV-maker Vizio for $2.3 billion, or $11.50 a share, leading shares of Vizio to climb above 15% and Walmart higher by 1.9%. Walmart also beat quarterly earnings and revenue expectations, fueled by double-digit growth in the company’s global e-commerce sales.
Tuesday kicks off the shortened trading week after U.S. markets were closed Monday in observance of the birthday of George Washington. Investors will watch for leading economic indicators data due at 10 a.m. ET.
In Japan, the Nikkei 225 slipped 0.3% while in Hong Kong, the Hang Seng index pointed upwards 0.6%.
Oil prices stepped back 28 cents to $78.91 U.S. a barrel.
Gold prices brightened $14.80 to $2,038.90 U.S. an ounce.
