Canada's main stock index futures edged up on Monday, supported by gold prices which rose as lingering U.S.-China trade uncertainties increased appeal for safe-haven bullion.
The TSX Composite Index moved higher by 54.40 points to conclude the day and the last full week before Christmas at 17,118.44. On the week, the rise was 0.7%, to an all-time high.
The Canadian dollar shuffled off 0.09 cents U.S. to 75.98 cents early Monday
December futures gained 0.2% Monday.
TD Securities raises price target on Aritzia to $22.00 from $21.00
BMO raised the price target on Pinnacle Renewable Energy to $10.25 from $9.00
On the economic calendar, Statistics Canada reported that this country’s Gross Domestic Product edged down 0.1% in October, the first decline in eight months.
Goods-producing industries were down 0.5%, the second consecutive monthly decline. Services-producing industries were essentially unchanged as increases in most sectors compensated for declines in wholesale trade and retail trade.
ON BAYSTREET
The TSX Venture Exchange added 4.2 points Friday to 548.84. On a weekly basis, the rise was 1.5%,
ON WALLSTREET
U.S. stock index futures signaled a higher open on Monday after China said it will cut import tariffs on a wide range of goods.
Futures for the Dow Jones Industrials picked up 57 points, or 0.2%, Monday to 28,539
Futures for the S&P 500 progressed 6.25 points, or 0.2%, at 3,232.
Futures for the NASDAQ Composite gained 24 points, or 0.3% to 8,734.75.
China’s finance ministry said Sunday starting January 1, it will lower import tariffs on over 850 products ranging from frozen pork and avocado to some types of semiconductors. The country is making efforts to boost imports amid a slowing economy and a trade war with the U.S.
The U.S. stock market closes at 1 p.m. ET on Tuesday for Christmas Eve and is closed on Wednesday for Christmas. Thursday and Friday are regular trading days.
On the data front, November’s National Activity Index figures are due out of the U.S. at 8:30 a.m. ET. There are no corporate earnings expected Monday.
Overseas, in Japan, the Nikkei 225 gained five points Monday, while in Hong Kong, the Hang Seng Index rose 0.1%.
Oil prices sank six cents at $60.38 U.S. a barrel.
Gold prices picked up four dollars to $1,484.90 U.S. an ounce.
