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Futures Up Marginally with Oil Prices

Jun 11, 2021 (Baystreet.ca via COMTEX) --

Futures for Canada's main stock index rose on Friday, helped by stronger crude prices which hit multi-year highs on hopes of a recovery in fuel demand.

The TSX Composite index strengthened 47.2 points to end Thursday at 20,049.47

The Canadian dollar shed 0.08 cents to 82.59 cents U.S.

June futures were up 0.2% Friday.

TD Securities raised the target price on Advantage Oil & Gas to $3.25 from $2.50

TD Securities raised target price on Boardwalk REIT to $48.00 from $47.00

CIBC raised the rating on Canadian Western Bank to outperform from neutral.

The Bank of Canada said on Thursday that inflation could remain higher than projected if supply imbalances and pressures on capacity persist, which might lead it to reduce stimulus more quickly than currently expected.

ON BAYSTREET

The TSX Venture Exchange gained 3.07 points to conclude Thursday at 979.91.

ON WALLSTREET

U.S. stock futures were slightly higher Friday morning after the S&P 500 hit a new record in the previous session despite hotter-than-expected inflation data.

Futures for the Dow Jones Industrials gained 79 points, or 0.2 %, to 34,432.

Futures for the S&P 500 added six points, or 0.1%, to 4,234.75.

Futures for the NASDAQ Composite picked up 20.5 points, or 0.2%, to 13,971.

Some of the meme stocks were rebounding after a rough day on Thursday. AMC shares were up 3% and GameStop was up 7% in the premarket. Those two suffered double digit percent losses on Thursday as momentum in the Reddit favorites faded.

For the week, major benchmarks are mixed. The Dow is off by 0.8%, but the S&P 500 is up 0.2% and the NASDAQ is up 1.5%.

Overseas, in Japan, the Nikkei 225 lost more than nine points Friday, while in Hong Kong, the Hang Seng index gained 0.4%.

Oil prices increased 14 cents to $70.43 U.S. a barrel.

Gold prices docked $2.60 to $1,893.50 U.S.

comtex tracking

COMTEX_388137961/2559/2021-06-11T08:57:28

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