Futures indicated a higher opening for Canada's main stock index on Monday, on growing hopes that the United States and China will likely agree on a deal to end their eight-month-long trade war and eliminate tariffs levied against each other.
The S&P/TSX Composite Index gained 72.24 points to conclude Friday and the week at 16,071.25
The Canadian dollar demurred 0.18 cents to 75.09 cents U.S. early Monday
Futures took on 0.2% Friday.
White House officials said they expect U.S. President Donald Trump and his Chinese counterpart Xi Jinping to "close" a deal at a summit in the coming weeks at Trump's Mar-a-Lago estate in Florida.
The lawyers for Huawei Chief Financial Officer Meng Wanzhou are suing the Canadian government, its border agency and federal police, alleging their client was detained, searched and interrogated for three hours in violation of her constitutional rights.
Canaccord Genuity raised the target price on Air Canada to $45.00 from $40.00
JP Morgan raised the price target on Emera to $45.00 from $43.00
National Bank of Canada cut the target price on Ritchie Bros. Auctioneers to $35.00 from $37.00
ON BAYSTREET
The TSX Venture Exchange regained 0.89 points Friday to 624.43
ON WALLSTREET
U.S. stock index futures rose on Monday on a report that U.S. and China are getting close to a trade deal.
Futures for the Dow Jones Industrial Average moved forward 76 points, or 0.3%, at 26,107.
Futures for the S&P 500 squired higher eight points, or 0.3%, to 2,813
NASDAQ futures hiked 35 points, or 0.5%, to 7,191
The Wall Street Journal reported Sunday that China had proposed to bring down duties on certain American goods in an attempt to strike a deal with the Trump administration.
The same report suggested both countries are at the final stage of their negotiations, which could see the country's leaders meeting at a special summit to sign a trade deal soon.
Shares of global trade bellwethers Caterpillar, Boeing and Deere were all up in the pre-market.
On the economic front, there will be construction spending figures out at 10 a.m. ET.
Overseas, in Japan, the Nikkei 225 popped 1% Monday, while in Hong Kong, the Hang Seng gained 0.5%.
Oil prices moved up 44 cents to $56.24 U.S. a barrel.
Gold prices dipped $12.20 to $1,287 U.S. an ounce.
