Stock futures pointed to a muted opening for Canada's main stock index on Monday after U.S. lawmakers agreed on a spending package deal to keep the government in Washington funded through September, averting a government shutdown.
The S&P/TSX Composite Index gained 79.66 points to end April’s last session at 15,586.13. June futures advanced 0.04% early Monday
The Canadian dollar eased 0.03 cents to 73.26 cents U.S. early Monday.
The House of Representatives and Senate must approve the deal before the end of Friday, as must U.S. President Donald Trump, to avoid the first government shutdown since 2013.
Pembina Pipeline Corp said it would buy Veresen Inc in a deal valued at $9.7 billion, including debt, adding natural gas pipelines and processing infrastructure to its oil and natural gas liquids-heavy portfolio.
Shaw Communications is reportedly looking for a buyer for ViaWest, the U.S. data centre company it bought three years ago, as the Canadian cable company continues to shed assets it considers non-core.
RBC started coverage on Osisko Mining with outperform rating
On the economic front, seasonally-adjusted Markit Manufacturing Purchasing Managers Index figures for April are scheduled to release at 9:30 a.m. ET
ON BAYSTREET
The TSX Venture Exchange gained 6.36 points Friday to 806.77
ON WALLSTREET
U.S. equity futures pointed to a higher open on Monday after the U.S. government avoided a shutdown.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 47 points, or 0.2%, to 20,921. Futures for the S&P 500 added 6.25 points, or 0.3%, to 2,386.75. NASDAQ futures hiked 17.5 points, or 0.3%, to 5,598
Lawmakers reached a deal Sunday to keep the government funded for the next five months, aides to senior members of Congress.
The full House and Senate must still approve the bipartisan pact, which would be the first major legislation to clear Congress since Donald Trump became president on Jan. 20.
Prompt passage of the legislation is expected this week.
Investors also awaited another big week of earnings. Among them: energy giant BP, Apple, Mondelez, Tesla, Yum Brands and Facebook.
This earnings season has been strong thus far, with more than 75% of companies beating profit estimates and about 70% topping sales forecasts as of Friday morning
Investors also perused several key economic data due Monday, including the Institute for Supply Management manufacturing index April print, and construction spending numbers for March. Personal income data for March were also due out this morning.
Trading volumes overall are expected to be thin as many markets in Asia and Europe are closed for Labour Day.
Oil prices dipped 22 cents to $49.11 U.S. per barrel.
Gold prices dropped $3.70 to $1,264.60 U.S. an ounce.
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