Markets in Toronto appeared headed for a flat opening Monday after finishing last week on a high note following a report that found the U.S. economy showing surprising signs of improvement on the jobs front.
The S&P/TSX composite index was 58.39 points higher at 12,438.03 to close out the week.
The Canadian dollar faded 0.08 cents to 99.15 cents U.S. early Monday.
In major corporate news, private equity firm Onex Corp. says it will pay $950 million U.S. in cash to acquire business-to-business trade show operator Nielsen Expositions. The purchase, from an affiliate of Nielsen Holdings N.V. is expected to close in the second quarter.
Based in San Juan Capistrano, Calif., Nielsen Expositions, with about 240 employees, produces more than 65 business-to-business trade shows and conference events each year.
On the economic slate, Statistics Canada reported that contractors took out building permits worth $6.5 billion in March, up 8.6% from February and the third consecutive monthly advance. The March increase came mostly from the non-residential sector in Ontario and Alberta.
The Ivey Purchasing Managers’ index for April is due out at 10 a.m. ET.
ON BAYSTREET
The TSX Venture Exchange gained 1.87 points Friday to 964.68
ON WALLSTREET
Investors are wondering how much further the bull market can run after the S&P 500 and the Dow Jones industrial average closed at record highs last week.
Futures for the Dow Industrials slid one point to 14,897. Futures for the S&P 500 dropped 0.2 points to 1,608.30, and futures for the NASDAQ upped two points to 2,937.
But trading could be quiet Monday, with few major corporate or economic reports scheduled for release.
First-quarter quarterly results continue with results due in the morning from firms including Tyson Foods. Private equity firm Apollo Global Management reported an increase in revenue and net income.
After Friday's close, Warren Buffett's Berkshire Hathaway reported first-quarter earnings that blew past expectations, sending shares up in after-hours trading.
European markets were weak in morning trading, while Asian markets closed higher on the upbeat U.S. employment report. The Shanghai Composite added 1.2% and the Hang Seng increased 1%.
Exchanges in London and Tokyo were closed for holidays
Oil prices gained 21 cents to $95.82 U.S. a barrel
Gold prices hiked $8.80 to $1,473 U.S.
