Futures tied to Canada's resources-heavy main stock index gained on Monday, tracking higher gold and oil prices, while investors braced for a barrage of global economic data, including domestic consumer prices data due during the week.
The TSX Composite faded 246.81 points, or 1.2%, to 20,531.99 to close Friday. On the week, though, the index leaped 200 points, or nearly a full percentage point.
March futures sprinted 0.6% early Monday.
The Canadian dollar tacked on 0.2 cents to 74.87 cents U.S.
Among individual stocks to look out for, brokerage J.P. Morgan upgraded software firm Lightspeed Commerce to "neutral" from "underweight".
ON BAYSTREET
The TSX Venture Exchange docked 2.47 points Friday to 531.79. The loss on the week proved to be 5.7 points, or 1.1%.
ON WALLSTREET
U.S. stock futures were slightly higher Monday after the three major averages notched their seventh straight week of gains.
Futures for the 30-stock index rushed ahead 63 points, or 0.2%, to 37,724.
Futures for the S&P 500 gained 10.5 points, or 0.2%, at 4,778.50.
Futures for the NASDAQ grew 10 points, or 0.1%, to 16,836.25.
The winning streak for the S&P 500 marked its longest string of weekly gains since 2017. The broad market index is up by 3.3% for the month, while the Dow is ahead 3.8% and NASDAQ is 4.1% higher. The Dow also posted an intraday record on Friday, and the NASDAQ had a new closing high.
On the economic front, investors will be looking toward December’s business leaders survey and housing market index results. Monday marks the start of the final full trading week of 2023.
In Japan, the Nikkei 225 slid 0.6% Monday, while in Hong Kong, the Hang Seng Index fell 1%.
Oil prices gathered $1.29 to $72.72 U.S. a barrel.
Gold prices took on two dollars to $2,037.70 U.S. an ounce.
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