Futures pointed to a higher opening for Canada's main stock index on Monday on renewed hopes of a trade deal between the United States and China, after U.S. President Donald Trump said he would delay raising tariffs on Chinese imports.
The S&P/TSX Composite Index nosed up 12.15 points to end Friday and the week at 16,013.01
The Canadian dollar increased 0.03 cents to 75.13 cents U.S. early Monday
March futures gained 0.3% Monday.
Barrick Gold offered to buy U.S. rival Newmont Mining for nearly $18 billion in stock, in a deal that would combine the world's two largest gold producers.
RBC cut the price target on Canfor to $21.00 from $23.00
J.P. Morgan cut the rating on Magna International to underweight from neutral.
National Bank of Canada raised the price target on Saputo to $46.00 from $44.00
ON BAYSTREET
The TSX Venture Exchange gained 1.66 points Friday to 623.27
ON WALLSTREET
U.S. stock index futures pointed to a higher start to the trading day Monday after President Donald Trump announced a delay in trade tariffs on Chinese goods.
Futures for the Dow Jones Industrial Average leaped 158 points, or 0.6%, at 26,160.
Futures for the S&P 500 gained 13.75 points, or 0.5%, to 2,805
NASDAQ futures hiked 49 points, or 0.7%, to 7,137.25
Investors will also be watching corporate earnings numbers on Monday. Etsy, Hersha Hospitality and Shake Shack are set to report after the bell.
On the data front, a Chicago Fed National Activity Index is due this morning, followed by wholesale trade figures and a Dallas Fed manufacturing survey at 10 a.m. ET.
Market focus is largely attuned to the ongoing trade talks between the U.S. and China. In tweets, Trump cited "substantial progress" in bilateral talks between the world's two largest economies, including intellectual property protection and technology transfer issues. As a result, the president said he would suspend the new levies, however he did not state a new deadline.
Overseas, in Japan, the Nikkei 225 sprinted 0.5% Monday, while in Hong Kong, the Hang Seng also surged 0.5%.
Oil prices faded $1.18 to $56.08 U.S. a barrel.
Gold prices docked one dollar to $1,331.80 U.S. an ounce.
