The Toronto stock market was poised to open higher Monday on positive data that indicated the U.S. economy expanded more than expected in the last quarter.
The S&P/TSX composite index held on to gain 8.94 points Friday to end the week at 13,401.14
The Canadian dollar strengthened 0.34 cents to 94.32 cents U.S. early Monday
In corporate news, French railway operator SNCF has exercised an option to buy an additional 30 Regio 2N double-deck electric passenger trains from Bombardier Inc.
The Regio 2N double-deck electric train units are designed for use in intercity, regional and commuter services.
The order is valued at $379 million U.S. and brings the total number of units that SNCF has ordered to 159, Bombardier announced Monday from Berlin, where its rail division has its global headquarters.
On the economic slate, Statistics Canada reported this morning that Gross Domestic Product for October rose 0.3%, up for a fourth consecutive month. The general estimate had been for gross domestic product to grow by 0.2%, compared with September's increase of 0.3%
ON BAYSTREET
The TSX Venture Exchange gained 1.84 points Friday to 889.01
ON WALLSTREET
U.S. stock futures were looking buoyant ahead of Monday's opening bell, indicating markets could hit another record high before the holiday break.
Ahead of the opening bell, futures for the Dow Jones Industrials spiked 44 points, or 0.3%, to 16,225. Futures for the S&P 500 picked up 8.5 points, or 0.5%, to 1,823, and futures for the NASDAQ grew 20.75 points, or 0.6%, to 3,553.
The NASDAQ is getting a boost from Apple, with shares in the iPhone maker surging by 3% in pre-market trading after the company announced Sunday it had inked an important sales deal in China.
Also, Facebook kicks off its first day of trading as part of the S&P 500, making it easier for investors to own shares.
Investors may also be feeling increasingly confident after the head of the International Monetary Fund, Christine Lagarde, said her organization was much more upbeat about the U.S. economic recovery.
Looking to the day ahead, the U.S. Commerce Department will release its monthly reports on personal income and spending. Also, the University of Michigan and Thomson Reuters will release data on U.S. consumer sentiment.
There are no big corporate earnings announcements expected Monday.
On international markets, China has been grabbing the headlines as investors continue to worry about a cash crunch. However, the Chinese central bank said it had pumped liquidity into the system, leading Asian stock markets to notch up modest gains Monday.
The main European markets were moving higher in morning trading.
The Tokyo market was closed for a holiday.
Oil prices dipped 33 cents to $98.99 U.S. a barrel
Gold prices fell $4.30 at $1,198.40 U.S. an ounce.
