Canadian stock index futures pointed to a higher open on Monday, mirroring expected Wall Street gains, after recent global economic data suggested the world's biggest economies are on their way to recovery.
The S&P/TSX Composite Index slipped 6.99 points to end Friday at 12,816.63, but futures for Monday eked higher 0.1%.
The Canadian dollar faded 0.27 cents to 99.14 cents U.S. early Monday.
Nordion said it has initiated a review of its strategic alternatives, almost four months after it suspended its dividend as an arbitration panel rejected its claim for damages from its main supplier.
Oil and gas producer Nexen Inc. and China's CNOOC said they have mutually agreed to extend the closing date of CNOOC's takeover of the company by 30 days to March 2
Silver Standard Resources Inc. says it expects construction at its San Luis mine in central Peru to begin this year, as it works to wrap up an agreement with a local land-owning community.
ON BAYSTREET
The TSX Venture Exchange slumped 2.22 points Friday to 1,227.24
ON WALLSTREET
U.S. stock futures rose early Monday, as investors welcomed strong durable goods orders and better-than-expected earnings from manufacturing giant Caterpillar.
Futures for the Dow Industrials added 22 points, or 0.2%, to 13,834. Futures for the S&P 500 tacked on 2.5 points, or 0.2%, to 1,498.20, and futures for the NASDAQ eked up two points, or 0.1%, to 2,730
U.S. stocks have had quite a run in 2013, with four straight weeks of gains so far this year. The Dow finished Friday at its highest level since October 2007, while the S&P 500 closed above the 1,500 mark for the first time since December 2007. The Dow is now just 2% away from its all-time high, and the S&P 500 is off about 5% from its record high.
Caterpillar's fourth-quarter earnings topped analyst expectations, sending shares of the company up more than 1% in premarket trading. As the biggest seller of construction equipment in the world, with major operations in China, Caterpillar is considered a bellwether for the global economy.
Yahoo earnings are up after the bell. The company's fourth-quarter results are a big test for CEO Marissa Mayer, who shocked the world last summer by taking the top spot at Yahoo. The results will be a look into Yahoo's new business strategy -- the results of which Mayer began laying out in an all-staff meeting in September.
Of the 141 companies in the S&P 500 that have reported earnings so far, 67% have reported results above analyst expectations, according to Thomson Reuters. Overall, fourth-quarter earnings are expected to grow 2.8% from a year ago.
Also on the corporate front, shares of Apple will be in focus Monday, with shares edging slightly higher in premarket treading. The iPhone and iPad maker's stock is down almost 20% this year. On Friday, Apple lost its title as the world's most valuable company to Exxon as shares closed at a one-year low.
The U.S. Census Bureau said durable goods orders rose 4.6% in December. Analysts were looking orders to rise just 1.6% last month, following a 0.7% uptick in November.
Following the opening bell, the National Association of Realtors will release pending home sales for December.
European markets were slightly higher in morning trading Monday, while Asian markets ended finished mixed. The Shanghai Composite added more than 2%, closing at its highest level since June, while the Nikkei tumbled nearly 1%. The Hang Seng in Hong Kong edged slightly higher.
Oil prices added 23 cents to $96.11 cents U.S. a barrel
Gold prices slipped a dime an ounce to $1,656.50 U.S.
