Futures for markets in Canada’s biggest market edged higher on Monday as oil prices rose after fighting escalated between Iraqi and Kurdish forces, raising concerns over oil exports from Iraq.
The S&P/TSX Composite Index surged 60.01 points to close the day and the week at 15,802.21
Toronto stocks were up 0.5% for the week, for their fifth consecutive week in positive territory. That is the longest streak since a five-week run that ended in November 2014.
The Canadian dollar fell 0.42 cents at 79.76 cents U.S. Monday morning.
December futures inched up 0.06% Monday morning.
Bloomberg reported Sunday that Bombardier is exploring options for its aerospace businesses, including a sale of some operations
Morgan Stanley raised the price target on Restaurant Brands International to $62 from $57
ON BAYSTREET
The TSX Venture Exchange progressed 6.18 points to finish Friday at 796.82
ON WALLSTREET
U.S. stock index futures pointed to a slightly higher open Monday, as investors turned their attention to upcoming corporate earnings reports.
Futures for the Dow Jones Industrials gained 18 points, or 0.1%, to 22,848.
S&P 500 futures tacked on 1.5 points, or 0.1%, to 2,554.25, while futures on the NASDAQ Composite index added nine points, or 0.2%, to 6,108.75.
Major earnings are set to dominate discussion on Wall Street, as Charles Schwab, Netflix, Celanese, Ruby Tuesday and Sonic get ready to post their latest financial figures.
Looking to data, the Empire State Manufacturing survey is set to come out at early this morning, while in the bond market, two bills auctions are set to take place by the U.S. Treasury.
Looking to the U.S. Federal Reserve, investors are likely to be digesting the latest comments from the central bank's chair, Janet Yellen, who delivered remarks Sunday.
In spite of subdued inflation, Yellen said in Washington that the U.S. economy remains robust and the strength of the labor markets makes the case for gradual increases in interest rates
Overseas, European stocks were flat approaching noon on the continent Monday, while Japan’s Nikkei 225 increased 0.5%, while in Hong Kong, the Hang Seng Index picked up 0.8%.
Oil prices picked up 84 cents to $52.29 U.S. per barrel.
Gold prices gained $3.30 to $1,307.90 U.S. an ounce.
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