TSX Foresees Tepid Opening
The TSX Composite gained 161.86 points to close Friday at 22,264.38. On the week, the index gained 97 points, or 0.43%.
June futures were flat Monday.
The Canadian dollar edged up 0.08 cents to 73.58 cents U.S.
In corporate news, Royal Bank of Canada on Friday said it appointed Katherine Gibson as interim Chief Financial Officer, effective immediately, following the departure of Nadine Ahn, who was fired over an undisclosed relationship.
ON BAYSTREET
The TSX Venture Exchange improved 5.45 points to 584.33, for a jump of nearly 21 points, or 3.7%, on the week.
ON WALLSTREET
Stock futures were flat Monday after the market suffered a pullback last week as 2024's rally took a breather.
Futures for the Dow Jones Industrials index poked ahead three points to 39,226.
Futures for the S&P 500 slid 0.5 points to 5,252.50.
Futures for the NASDAQ Composite gained 7.25 points to 18,308.
The 30-stock Dow fell 2.3% last week, posting its worst weekly performance March 2023. The S&P 500 declined nearly 1% during the period, its biggest weekly loss since early January. The tech-heavy NASDAQ Composite dipped 0.8%, suffering its fourth negative week in five.
The market did end last week on a positive note, however, after a stronger-than-expected jobs report Friday. The surprising gain in payrolls gave investors hope that a strong economy could continue to support corporate earnings growth, even if it means higher interest rates for longer.
Economists polled by Dow Jones expect the CPI number, to be released Wednesday morning, to increase 0.3% last month and 3.5% year over year.
In Japan, the Nikkei 225 gained 0.9% Monday, while in Hong Kong, the Hang Seng edged up 0.1%.
Oil prices forfeited 66 cents to $86.25 U.S. a barrel.
Gold prices hiked $13.50 to $2,358.90 U.S. an ounce.
Provided Content: Content provided by Baystreet. The Globe and Mail was not involved, and material was not reviewed prior to publication.
