Futures for Canada's main stock index pointed to a higher opening on Monday after oil prices rose and officials in U.S. President Donald Trump's administration played down fears of a trade war with China.
The S&P/TSX Composite Index fell back 51.32 points to finish the day and the week at 15,304.73
The Canadian dollar dropped 0.06 cents to 78.24 cents U.S. early Monday
June futures spiked 0.7% Monday.
Kinder Morgan Canada on Sunday suspended most work on a $5.8-billion oil pipeline expansion that has become the focus of protests, a move underscoring uncertainty over major energy projects in Canada.
Private investment firm Cation Capital said it intends to nominate four candidates to Crescent Point Energy's board next month at the company's annual shareholders meeting.
Eight Capital cut the target price Hudbay Minerals to $13.50 from $16.00
Canaccord Genuity raised the target price on Lithium Americas to $12.00 from $11.00
CIBC raised the price target on Yangarra Resources to $7.50 from $7.00
Folks familiar with the matter say talks to rework the North American Free Trade Agreement are not advanced enough for the United States, Mexico and Canada to announce a deal "in principle" at this month's Summit of the Americas in Lima
ON BAYSTREET
The TSX Venture Exchange shed 1.41 points Friday to 769.15
ON WALLSTREET
U.S. stock index futures posted solid gains ahead of Monday's open, boosted by the strong performance seen in international markets.
Futures for the Dow Jones Industrial Average rocketed 139 points, or 0.6%, to 24,065
S&P 500 futures advanced 11.25 points, or 0.4%, to 2,617, while futures for the NASDAQ composite index jumped 38.5 points, or 0.6%, to 6,493.25
Large-cap technology stocks rose before the bell. Facebook shares rose 0.8%, while Amazon, Apple, Netflix and Alphabet all climbed as well.
The moves in premarket trade come after Wall Street closed sharply down Friday. On the final trading day of last week, the Dow tumbled 572.46 points to close down 23,932.76, ending the day back in correction territory. Other major indexes also closed lower.
Last week, China announced fresh tariffs on 106 U.S. products, which then saw President Donald Trump going on to threaten more levies, saying that he had asked the United States Trade Representative to consider $100 billion in additional tariffs against the Asian nation.
But those concerns lessened after Trump tweeted Sunday that China could remove its trade barriers.
Boeing shares climbed nearly 2% in the pre-market Monday. The aerospace giant is seen as a company that could be adversely affected by a trade war.
However, China's Foreign Ministry said Monday that the U.S. was to blame for the trade friction, adding that it was impossible for talks to occur in this current environment
Elsewhere, social media and technology stocks will remain at the forefront of market talk. As the data scandal around Facebook continues to unfold, the social media company has decided to suspend another analytics firm, called CubeYou, after media outlets notified Facebook that the analytics group had been collecting information about Facebook users through quizzes.
Meanwhile, in Japan, the Nikkei 225 gained 0.5%, and in Hong Kong, the Hang Seng Index leaped 1.3%.
Oil prices picked up 59 cents to $62.65 U.S. per barrel.
Gold prices faded 20 cents to $1,335.90 U.S. an ounce.
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