Stock index futures in Canada’s largest market advanced early Monday as oil prices rose on hopes of a production cut later this month by the Organization of the Petroleum Exporting Countries.
The S&P/TSX Composite remained positive 38.11 points to end Friday and the week at 14,864.20
The Canadian dollar bolted higher 0.24 cents to 74.28 cents U.S. early Monday.
National Bank Financial raised the target price on change Income Corp. to $47.00 from $42.00, citing the company’s unparalleled dividend profile, relatively favorable valuation and ongoing attractive growth opportunities.
It’s also a sparse day on the company earnings front. Canadian Solar reports today, expecting Q3 earnings of 27 cents per share.
Gaming Nation expects Q3 earnings of two cents per share
On the economic slate, Statistics Canada reported that wholesale trade decreased 1.2% to $56.0 billion in September, following increases in four of the previous five months. Declines were recorded in five sub-sectors, led by lower sales in the machinery, equipment and supplies and the miscellaneous sub-sectors.
ON BAYSTREET
The TSX Venture Exchange gained 4.05 points to end Friday at 746.49
ON WALLSTREET
U.S. stock index futures pointed to a flat-to-higher open on Monday, ahead of a four-day Thanksgiving trading week, as traders digested rising oil prices and comments from Federal Reserve Vice Chairman Stanley Fischer. Fischer said in a speech that fiscal adjustments could support years of accommodative monetary policy.
Ahead of the opening bell, futures for the Dow Jones Industrials picked up 25 points, or 0.1%, to 18,878. Futures for the S&P 500 moved ahead 5.5 points, or 0.3%, to 2,186.25. NASDAQ futures advanced 14.5 points, or 0.3%, to 4,823.
On the earnings front, Tyson Foods, Canadian Solar, Cheetah Mobile and Intl Game Technology all posted quarterly results. Palo Alto Networks and Vipshop are both due to report after the bell.
There are no significant data releases concerning the U.S. due on Monday.
Markets in Europe were fairly flat on Monday. In Asia, the Shanghai Composite in China closed 0.8% higher, while the Nikkei in Japan closed 0.8% higher.
Oil prices gained 86 cents to $46.55 U.S. a barrel
Gold prices upped $4.30 at $1,213.00 U.S. an ounce.
