Futures for Canada's main stock index rose on Monday as gold prices gained on low interest rate hopes, while oil prices rose after a cyberattack on a U.S. pipeline operator sparked supply concerns.
The TSX rocketed 181.76 points to close Friday at 19,472.74. On the week, the index leaped 364 points, or 1.9%.
The Canadian dollar gained 0.208 cents Monday to 82.55 cents U.S.
June futures improved 0.3% Monday.
BMO raised the target price on West Fraser Timber to $99.00 from $80.00
Scotiabank raised the target price on Spin Master to $45.00 from $39.00
ON BAYSTREET
The TSX Venture Exchange leaped 11.21 points to 954.98, but lost 5.3 points, or 0.55% on the week.
ON WALLSTREET
Futures contracts were mostly higher on Monday, as major U.S. equity indexes hover near records.
Futures for the Dow Jones Industrials climbed 112 points, or 0.3%, to 34,798.
Futures for the S&P 500 picked up 3.5 points, or 0.1%, to 4,228,75.
Futures for the NASDAQ Composite index faded 49 points, or 0.4%, to 13,660.25.
The moves came after last week’s trading ended on an upbeat note with both the Dow and the S&P 500 hitting fresh all-time highs on Friday.
Shares of energy stocks gained in the premarket including Marathon Oil, Occidental Petroleum and Devon Energy. Chevron was up 1% in early trading and set to give a boost to the Dow. Exxon was also higher in early trading.
Cybersecurity shares also gained in early trading. Shares of FireEye jumped 6% in premarket trading. Fortinet and CrowdStrike were also higher.
Bigger tech stocks declined in early trading, however, weighing on sentiment. Tesla was down 1%. Oracle lost nearly 1% after a downgrade from Barclays. Facebook and Alphabet were also lower after a downgrade by Citigroup.
Overseas, in Japan, the Nikkei 225 gained 0.6%, while in Hong Kong, the Hang Seng index docked 0.1% Monday.
Oil prices hiked 60 cents to $65.50 U.S. a barrel.
Gold prices improved $6.70 to $1,838.00 U.S.
