Futures for Canada's main stock index moved higher on Monday as copper prices rose, but worries over the ongoing crisis in the Middle East capped gains ahead of an earnings-heavy week.
The TSX Composite fell 37.38 points Friday to 19,506.13, but registered a gain of 217 points, or 1.13%, on a short week.
December futures inched up 0.2% early Monday.
The Canadian dollar was up 0.10 cents to 73.08 cents U.S.
LOGISTEC Corp entered into a definitive agreement to be acquired by Blue Wolf Capital Partners for $67/share.
On the economic calendar Monday, Canadian manufacturing sales rose 0.7% to $72.4 billion in August, mainly on higher sales of the petroleum and coal, food and machinery subsectors. Statistics Canada also reported wholesale sales increased 2.3% to $83.0 billion in August.
The Canadian Real Estate Association said national home sales declined 1.9% month-over-month in September. Actual (not seasonally adjusted) monthly activity came in 1.9% above September 2022.
ON BAYSTREET
The TSX Venture Exchange forged ahead 0.26 points to end Friday’s session at 529.13, skidding over the past four sessions 4.4 points or 0.83%.
ON WALLSTREET
Dow Jones Industrial Average futures rose Monday to start a busy week for corporate earnings.
Futures for the 30-stock index galloped 147 points, or 0.4%, to 33,974.
Futures for the S&P 500 advanced 10.5 points, or 0.2%, at 4,367.75.
Futures for the NASDAQ acquired 5.75 points to 15,126.
Earnings season heats up this week with 11% of the S&P 500 slated to report results. Some notable names on deck this week include Johnson & Johnson, Bank of America, Netflix and Tesla. Charles Schwab will report results before the bell Monday.
Those results will come after a solid start to the reporting period. JPMorgan Chase, Wells Fargo and UnitedHealth rose Friday after posting their latest quarterly results.
Over the weekend, Israel’s military continued urging residents to evacuate northern Gaza amid a widely anticipated ground invasion.
Meanwhile, U.S. Senate Majority Leader Chuck Schumer said Sunday that the Senate would work to quickly push through a military aid package to assist Israel as it battles Hamas.
In Japan, the Nikkei 225 fell 2% Monday, while in Hong Kong, the Hang Seng sank 1%.
Oil prices took on 16 cents $87.85 U.S. a barrel.
Gold prices dipped $12.30 to $1,929.20 U.S. an ounce.
