Stock futures pointed to a higher opening for stocks in Toronto on Monday as oil prices reversed earlier losses.
The S&P/TSX Composite Index faltered 53.92 points to conclude Friday at 13,440.44. Futures were up 0.5% early Monday
The Canadian dollar dipped 0.13 cents to 76.72 cents U.S. early Monday.
NBF raised the target price on Metro Inc. to $43.00 from $42.00
BMO, CIBC each raised their target prices on TransCanada Corp.
ON BAYSTREET
The TSX Venture Exchange recovering 0.33 points Friday to 581.48
ON WALLSTREET
U.S. stock futures are edging up and the U.S. dollar is rising a bit versus most global currencies.
Ahead of the opening bell, futures for the Dow Jones Industrials climbed six points to 17,712, while futures for the S&P 500 inched up 2.5 points, or 0.41, to 2,067.5. NASDAQ futures gained 4.25 points, or 0.1%, to 4,532.75.
Shares in Virgin America are shooting up by 36% pre-market after Alaska Air Group announced it is buying the carrier for roughly $4 billion U.S., including debt.
Alaska Air is offering $57.00 per share in cash, which beat out a bid from JetBlue.
The deal is expected to make Alaska Air the fifth largest airline in the U.S.
Shares in Tesla are rising by about 4% pre-market as investors cheer the unveiling of its highly anticipated Model 3 car last week. Tesla CEO Elon Musk tweeted on Sunday that the company had received 276,000 orders for the new car.
If all those orders go through, that's worth roughly $11 billion U.S. to the company. However, production is only expected to begin in late 2017.
European stock markets are climbing, after starting the day in negative territory. Asian markets were mixed, with China, Taiwan and Hong Kong off for holidays.
Oil prices eked up 0.11 cents to $36.90 U.S. a barrel
Gold prices faded $2.18 to $1,220.42 U.S. an ounce.
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