Futures for Canada's main stock index edged higher on Monday, as both the Bank of Canada and the U.S. Federal Reserve are expected to resume interest rate cuts.
The TSX Composite Index waned 124.07 points to conclude Friday at 29,283.82. On the week, however, the index jumped 243 points, or 0.84%.
The Canadian dollar gained 0.1 cents to 72.36 cents U.S.
Futures grabbed 0.2% Monday.
Economists anticipate the BoC will cut its overnight rate by a quarter point on Wednesday, as the labour market deteriorates and economic activity weakens. They also expect one more cut next quarter.
The Canadian central bank has maintained its benchmark rate at 2.75% since it was lowered in March.
In corporate news, Brookfield Asset Management is in talks to buy Yes! Communities, a U.S. firm, from the Singaporean sovereign wealth fund GIC for more than $10 billion, the Financial Times said on Sunday.
It’s a busy day on the macroeconomic front, with manufacturing sales hiking 2.5% in July, driven primarily by higher sales in the transportation equipment, petroleum and coal product, and primary metal subsectors.
Statistics Canada also reported wholesale sales rose 1.2% to $86.0 billion in July.
The nation’s number crunchers went on to say were 179,814 new motor vehicles sold in Canada in July 2025, increasing 6.8% from July 2024. Sales in dollar terms were up 4.7% over the same period. Gains were observed in both the passenger cars (+11.1%) and trucks (+6.2%) subsegments.
What’s more, the Canadian Real Estate was due to report its MLS sales for August Monday.
ON BAYSTREET
The TSX Venture Exchange moved ahead 3.9 points Friday to 879.67, having gained 22 points, or 2.6%, on the week.
ON WALLSTREET
U.S. stock futures moved higher on Monday as investors braced for a crucial Federal Reserve meeting this week.
Futures for the Dow Jones Industrials leaped 112 points, or 0.2%, to 46,301.
Futures for the S&P 500 index added 18 at 6,663.
Futures for the NASDAQ gained 48 points, or 0.2%, to 24,040.25.
Tesla shares jumped 7% in the premarket after CEO Elon Musk disclosed an insider purchase of the stock worth about $1 billion, his largest buy in the open market ever and his first significant purchase since 2020.
Traders took the buy as a vote of confidence by Musk in the company, which is attempting to turn its focus towards robotics as electric vehicle competition has intensified.
Nvidia shares were under pressure to start the week after China’s market regulator said Nvidia violated the country’s anti-monopoly law and that it would continue its probe into the chipmaker. The stock traded more than 1.5% lower before the bell.
Those moves come after the major averages finished out a strong week. In particular, the NASDAQ closed at a record, rising 2% for its second winning week in a row.
The S&P 500 gained 1.6%, posting its best weekly performance since early August. The Dow Jones Industrial Average wrapped up its first positive week in three.
On Monday, the Empire State Manufacturing Index is due out. Economists polled by Dow Jones expect a reading of 4.5, sharply lower than the previous reading of 11.9.
In Hong Kong, the Hang Seng gained 0.2%, while markets in Japan were shuttered for holiday.
Oil prices increased 22 cents to $63.91 U.S. a barrel.
Gold prices advanced 40 at $3,676 U.S. per ounce.
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