Futures for Canada's main stock index rose on Monday, as oil and bullion prices surged in the first trading session of the year, while investors turn their focus on manufacturing activity data due later today for cues on an
economic rebound.
The TSX dumped 112.45 points Thursday to end the week, month and year at 17,433.36.
The TSX gained 370 points, or 2.17%, in 2020, compared with a 19.1% jump last year, as a surge in coronavirus cases and strict restrictions weighed.
The Canadian dollar moved up 0.16 cents to 78.75 cents U.S.
March futures galloped 0.8% Monday.
CIBC cuts the rating on Bombardier to underperform from neutral.
RBC raised the target price on Lightspeed POS to $80.00 from $67.00
Canaccord Genuity raised the target price on Pollard Banknote to $40.00 from $25.00
ON BAYSTREET
The TSX Venture Exchange catapulted 10.1 points, or 1.2%, Thursday to 875.36. The gain on the year was an astounding 298 points, or 51.6%.
ON WALLSTREET
U.S. stock futures pointed to a positive start to 2021, following a wild, but highly profitable year for investors.
Futures for the Dow Jones Industrials leaped 148 points, or 0.5 %, to 30,644.
Futures for the S&P 500 improved 17.5 points, or 0.5%, at 3,766.25
Futures for the NASDAQ Composite gained 61.75 points, or 0.5%, to 12,947.25.
Both the Dow and S&P 500 closed at record highs on Thursday, the final trading day of 2020, to wrap up a year of surprisingly strong gains.
Tesla shares gained 2.8% in pre-market trading Monday after the electric carmaker said Saturday that it delivered 180,570 electric vehicles last quarter, beating expectations.
The 30-stock Dow ended last year with an advance of 7.3%, and the S&P 500 rose 16.3% in that time. At one point in 2020, the two market benchmarks were down more than 30% as the coronavirus pandemic ravaged the global economy.
The real standout of 2020 was the NASDAQ, which surged 43.6% for its biggest one-year gain since 2009. The NASDAQ’s outperformance came as investors and traders flocked into tech stocks in the throes of the COVID-19 outbreak.
Unprecedented fiscal and monetary support for the economy — coupled with the development and rollout of multiple COVID-19 vaccines — helped the market recover from its massive drop to trade back at all-time highs.
The U.S. rollout of multiple Covid-19 vaccines has recently been slowed down due to supply constraints.
The head of Operation Warp Speed said on Sunday that the U.S. could ramp up its vaccine rollout by giving a group of Americans half doses of the drug developed by Moderna.
Moderna shares added 4.4% in pre-market trading Monday.
The number of coronavirus cases also continues to rise in the U.S., raising concern about the speed of the economic recovery in 2021. Data compiled by Johns Hopkins University showed more than 20 million COVID-19 infections have been confirmed in the U.S., along with over 1.8 million virus-related deaths around the world. Several cases of a new coronavirus strain have also been confirmed across the country.
Overseas, in Japan, the Nikkei 225 faded 0.7% Monday, while in Hong Kong, the Hang Seng index gained 0.9%.
Oil prices doffed 30 cents to $48.22 U.S. a barrel.
Gold prices climbed $40.50 at $1,935.60 U.S.
