financetom
World
financetom
/
World
/
CANADA STOCKS-TSX futures rise on commodities strength
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
CANADA STOCKS-TSX futures rise on commodities strength
May 10, 2024 4:31 AM

May 10 (Reuters) - Futures for Canada's main stock index

advanced on Friday, tracking a surge in commodity prices, while

investors awaited an employment reading for more clues on the

monetary policy path of the country's central bank.

June futures on the S&P/TSX index were up 0.7% at

6:40 a.m. ET (10:40 GMT), mirroring gains in their Wall Street

peers.

Spot gold prices rose over 1% and were on track for

their best week since early April, while nonferrous metals,

including copper also advanced, fuelled by risk-on sentiment and

short-covering.

Global benchmark Brent hovered above $84 a barrel after data

this week signalled growing demand in the U.S. and China while

the festering conflict in the Middle East added support.

Meanwhile, data on Thursday showed that the number of

Americans filing new claims for unemployment benefits increased

more than expected in last week, uplifting investor sentiment

around interest rate cuts in the year.

Wall Street indexes closed up in the previous session after

the dataset.

The Toronto Stock Exchange's S&P/TSX composite index

also rose 0.5% to close at a record high of 22,375.83,

led by gains in financial and resources shares.

Looking forward, a monthly reading of employment data is due

at 8:30 a.m. ET in Canada that could support the narrative of an

easing labour market and cooling inflation in the country.

Investor focus will then shift to the crucial inflation

reading due in the United States in the upcoming week to gauge

the monetary policy path of the Federal Reserve.

In Canadian corporate news, life insurer Sun Life Financial ( SLF )

on Thursday missed core profit estimates for the first

time in 12 quarters, hurt by weakness in the U.S., a region

where it has been expanding.

COMMODITIES AT 6:40 a.m. ET

Gold futures: $2,382.5; +1.8%

US crude: $79.8; +0.7%

Brent crude: $84.36; +0.6%

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Futures Rebound Pre-Bell Ahead of Earnings, Next Week's Inflation Reports; Asia, Europe Gain
Futures Rebound Pre-Bell Ahead of Earnings, Next Week's Inflation Reports; Asia, Europe Gain
May 10, 2024
07:10 AM EDT, 05/10/2024 (MT Newswires) -- US equity futures were tracking in the green before the open Friday as traders await the final round of earnings this week, and take positions ahead of the release of key inflation data next week. The S&P 500 futures gained 0.4%, the Dow Jones Industrial Average increased 0.3% and the Nasdaq added 0.5%...
GLOBAL LNG-Asian spot LNG prices rise on signs of stronger demand
GLOBAL LNG-Asian spot LNG prices rise on signs of stronger demand
May 10, 2024
LONDON, May 10 (Reuters) - Asian spot liquefied natural gas prices rose this week on stronger demand amid high temperatures in north and south China, pushing European buyers to bid at relatively narrow discounts to attract sellers. The average LNG price for June delivery into north-east Asia rose to $10.50 per million British thermal units (mmBtu), from $10.40/mmBtu in the...
METALS-Aluminium dips on massive delivery to LME
METALS-Aluminium dips on massive delivery to LME
May 10, 2024
(Recasts, changes dateline, adds quotes) By Julian Luk LONDON May 10 (Reuters) - Aluminium prices dipped on Friday after the London Metal Exchange (LME) data came in to show an 88% jump in inventory. The most traded three-month contract for aluminium dipped to as low as $2,537 a metric ton, after inventory data was published in the morning. Loss narrowed...
CANADA STOCKS-TSX futures rise on commodities strength
CANADA STOCKS-TSX futures rise on commodities strength
May 10, 2024
May 10 (Reuters) - Futures for Canada's main stock index advanced on Friday, tracking a surge in commodity prices, while investors awaited an employment reading for more clues on the monetary policy path of the country's central bank. June futures on the S&P/TSX index were up 0.7% at 6:40 a.m. ET (10:40 GMT), mirroring gains in their Wall Street peers....
Copyright 2023-2026 - www.financetom.com All Rights Reserved