Canada's main stock index was set to open higher after successful Italian elections showed the country may be on its way to political resolution and the Group of 20 accepted Japan's aggressive stimulus policies, helping counter gloom over the global outlook.
The S&P/TSX index was positive 69.21 points to end the week at 12,065.55
The Canadian dollar demurred 0.06 cents to 97.44 cents U.S. early Monday.
But investors were keeping a close eye on the release of results from North American companies, including Canadian National Railway Co and Rogers Communications Inc.
Air Canada estimated a bigger operating loss for the first quarter, and will record an impairment charge of $24 million related to Airbus A340-300 aircraft.
Barrick Gold Corp., battling heavy debt and a slump in gold prices, has put three mines in Western Australia up for sale.
Eastern Platinum Ltd. suspended funding for Crocodile River mine in South Africa, its only producing mine, due to falling platinum prices and the labour unrest in the country.
No major Canadian economic data scheduled
ON BAYSTREET
The TSX Venture Exchange gained 6.13 points Friday to 939.07
ON WALLSTREET
Stocks were headed for a modestly higher start to the week, as investors parsed through another batch of earnings early Monday.
Futures for the Dow Industrials added 65 points, or 0.5%, to 14,535. Futures for the S&P 500 gained 6.4 points, or 0.4%, to 1,554, and futures for the NASDAQ surged 16.25 points, or 0.6%, to 2,784.50
Caterpillar, considered a bellwether for the global economy because of its size and reach, missed earnings and revenue forecasts. The mining and construction equipment maker also trimmed its earnings outlook for the year, citing a slowdown in mining.
Meanwhile, oil services firm Halliburton handily beat earnings and revenue estimates.
Netflix, which is hoping for a boost from its "House of Cards" video series, is on deck to report after the close.
Analysts expect earnings for S&P 500 companies to rise by 2% for the first quarter, according to S&P Capital IQ. But earnings season is far from over. So far, 104 S&P 500 companies have reported, with 70 beating forecasts, 23 missing and 11 showing up in line.
Investors will also get another glimpse into the health of the housing market Monday, when the National Association of Realtors releases the latest data on existing home sales at 10 a.m. ET. Housing reports have been somewhat mixed lately, giving investors reason to pause.
European markets were higher in morning trading, supported by hopes that Italy may soon have a new government after President Giorgio Napolitano was elected for a second term.
Asian markets were mixed, with the Shanghai Composite declining 0.1% and Hong Kong’s Hang Seng adding 0.1%.
Japan's Nikkei 225 rose 1.9% and the yen fell to almost 100 against the U.S. dollar after the G-20 gave its blessing to Japan's new monetary policy experiment.
Oil prices took on 90 cents to $88.91 U.S. a barrel
Gold prices progressed $34.20 to $1,429.80 U.S.
Related Stories
