Nov 11, 2024 (Baystreet.ca via COMTEX) --
Futures tied to Canada's main stock index rose on Monday, mirroring Wall Street peers, with investors focusing on this week's major economic indicators including key U.S. inflation data.
The TSX dropped 86.53 points to close Friday at 24,755.54. On the week, however, the big board accumulated 504 points, or 2.1%.
December futures recovered 0.5% Monday.
The Canadian dollar dipped 0.09 cents to 71.81 cents U.S.
In Canada, quarterly earnings from e-commerce services giant Shopify will grab investor interest on Tuesday, while data from manufacturing sales is expected on Friday.
In corporate news, Constellation Software slightly missed third-quarter revenue estimates on Friday.
Meanwhile, the Montreal Longshoremen's Union rejected the final offer made for a new labour contract, leading to a lockout being declared.
Otherwise, the economic slate is bare, as Canadians remember veterans of wars around the globe.
ON BAYSTREET
The TSX Venture Exchange dipped 4.86 points to 608.06. The week saw a gain, though, of 4.6 points, or 0.76%.
ON WALLSTREET
Stock futures climbed Monday as Wall Street sought to build on last week's rally to record highs.
Futures for the Dow Jones Industrials leaped 173 points, or 0.4%, to 43,315.
Futures for the S&P 500 soared 18.25 points, or 0.3%, to 6,043,50.
Futures for the NASDAQ Composite Index spiked 63.25 points, or 0.3%, to 21,294.50.
Monday's action follows a big week for U.S. stocks, with the three major averages closing at all-time closing highs. The Dow and S&P 500 both notched their strongest weeks in around one year, with the former at one point breaking above the 44,000 level for the first time.
There is no economic data of note expected Monday, but investors will be awaiting inflation readings due out later in the week. Ticketmaster parent Live Nation and food and facility service provider Aramark are among companies reporting earnings on Monday.
In Japan, the Nikkei 225 inched up 0.1% Monday, while in Hong Kong, the Hang Seng sank 1.3%.
Oil prices fell $1.13 to $69.25 U.S. a barrel.
Gold prices dumped $28.10 to $2,606.70 U.S. an ounce.
COMTEX_459682754/2559/2024-11-11T07:28:07
