Canada's main stock index futures treaded water on Monday, after stocks hit a three-month high in the previous session on tentative signs of a rebound in the domestic employment rate.
The S&P/TSX Composite Index screamed higher 326.20 points, or 2.1%, to close on Friday at 15,854.07. On the week, the TSX added 661 points, or 4.35%.
The Canadian dollar hiked 0.44 cents early Monday to 74.56 cents U.S.
June futures slumped 0.1% Monday.
RBC raised the target price on Enghouse Systems to $75.00 from $67.00
National Bank of Canada raised target price on Goeasy Ltd. to $66.00 from $45.00
CIBC raised the target price on Mav Beauty Brands to $4.00 from $3.50
Canada Mortgage and Housing Corporation this morning put the trend in housing starts at 196,750 units in May, down from 198,644 units in April.
Excluding Quebec, the trend was 151,072 units last month, down from 155,600 units in April.
ON BAYSTREET
The TSX Venture Exchange fell 5.5 points Friday to 556.91. The exchange eked out a gain of 2.35 points, or 0.42%, on the week.
ON WALLSTREET
U.S. stock futures were higher early Monday, building on the previous week’s sharp gains on optimism over the economy reopening.
Futures for Dow Jones Industrials vaulted 248 points, or 0.9%, early Monday, to 27,320.
Futures for the S&P 500 gained 18.75 points, or 0.6%, to 3,205.50.
Futures for the NASDAQ Composite deducted three points to 9,805.50. The Dow surged 6.8% last week while the S&P 500 jumped 4.9%. The NASDAQ climbed 3.4% and closed at record levels for the first time since Feb. 19.
The tech-heavy NASDAQ was the first of the three indices last week to trade back at all-time highs since the coronavirus pandemic shuttered the global economy.
Stocks tied to the reopening of the economy led the gains once again in pre-market trading. Airlines, retailers and cruise lines were higher. United was up 10%. Kohl’s added 6%, while shares of Carnival Corp. were up more than 16%.
Overseas, in Tokyo, the Nikkei 225 rocketed 1.4%, Monday, while in Hong Kong, the Hang Sang index gained more than six points.
Oil prices slumped 36 cents to $39.19 U.S. a barrel.
Gold prices gained $13.30 to $1,696.30.
