Futures pointed to a higher opening for Canada's main stock index on Monday as oil prices rose as U.S. drilling stalled and on anticipation of reduced crude supply as U.S. sanctions on Iranian exports go into effect from November.
The S&P/TSX Composite Index stayed in the red 10.67 points to close Friday and the week at 16,090.27
The Canadian dollar fell 0.23 cents at 75.81 cents U.S. early Monday
September futures galloped 0.4% Monday
Foreign Minister Chrystia Freeland said on Friday she and her U.S. counterpart were making "very good progress" in talks to save the North American Free Trade Agreement amid increasing Canadian optimism that a deal could be reached, even if a conclusion did not appear imminent.
Cenovus Energy has signed a deal to move more crude with Canadian National Railway.
Investa Office Fund said it has set Sept. 17 as the date for its shareholders to vote on Blackstone Group's sweetened A$3.3-billion bid.
Credit Suisse assumes coverage of Lundin Mining with neutral rating with a price target of $10.
JP Morgan cut the target price on First Quantum Minerals to $15.90 from $17.40.
RBC raised the rating on Onex Corp. to top pick from outperform
ON BAYSTREET
The TSX Venture Exchange regained 2.5 points Friday to 712.06
ON WALLSTREET
U.S. stock index futures posted solid gains ahead of Monday's open, as investors kept a close eye on trade developments.
Futures for the Dow Jones Industrials hiked 91 points, or 0.4%, to 26,050
S&P 500 futures gained 10.75 points, or 0.4%, to 2,885.50, while futures for the NASDAQ composite popped 40.5 points, or 0.5%, to 7,478
In corporate news, Sonos is due to publish its latest earnings report. Sticking with the space, investors will be keeping an eye on CBS, after news emerged that Leslie Moonves would be exiting his post as CEO following numerous allegations of sexual misconduct. CBS shares dipped slightly in the pre-market.
Elsewhere, this week marks the 10th anniversary of when Lehman Brothers filed for bankruptcy — September 15, 2008 — which became one of the largest victims in what is seen today as the financial crisis of 2008.
Investors around the globe remain on tenterhooks at the start of the new week, as concerns from previous days, seep into market sentiment.
Last Friday, President Donald Trump spoke to reporters on Air Force One, stating that he was "ready to go" on hitting China with an additional $267 billion worth of tariffs.
Overseas, in Japan, the Nikkei 225 gathered 0.3% while in Hong Kong, the Hang Seng index faded 1.3%.
Oil prices picked up 29 cents to $68.04 U.S. a barrel.
Gold prices dropped $3.20 to $1,197.20 U.S. an ounce.
