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 >
TSX Closer: The Index Rises Ahead of Fresh Tariffs From the Trump Administration
TSX Closer: The Index Rises Ahead of Fresh Tariffs From the Trump Administration
Apr 2, 2025
04:37 PM EDT, 04/02/2025 (MT Newswires) -- The Toronto Stock Exchange rose for a third-straight session Wednesday as Canadian investors continue to adopt an 'elbows up' approach to dealing with the threat of looming tariffs from U.S. President Donald Trump's administration being announced today. Today, the resources heavy index was buoyed by elevated commodity prices in rising 273.9 points at...
Trading Day: T-Day arrives, markets rise
Trading Day: T-Day arrives, markets rise
Apr 2, 2025
ORLANDO, Florida (Reuters) - TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist  New reality about to dawn U.S. markets on Wednesday were determined to put on a brave face ahead of U.S. President Donald Trump's announcement of sweeping tariffs that will escalate a global trade war and threaten to upend the entire international...
Weekly Crude Inventories Post Surprise Gain; Oil Prices up Ahead of Tariff Announcement
Weekly Crude Inventories Post Surprise Gain; Oil Prices up Ahead of Tariff Announcement
Apr 2, 2025
03:11 PM EDT, 04/02/2025 (MT Newswires) -- Commercial crude stockpiles in the US unexpectedly increased last week amid gains in propane and propylene inventories, government data showed Wednesday. Inventories of crude, excluding the strategic petroleum reserve, rose by 6.2 million barrels to 439.8 million barrels through the week ended Friday, the Energy Information Administration said. The consensus was for a...
TRADING DAY-T-Day arrives, markets rise
TRADING DAY-T-Day arrives, markets rise
Apr 2, 2025
ORLANDO, Florida, April 2 (Reuters) - TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist New reality about to dawn U.S. markets on Wednesday were determined to put on a brave face ahead of U.S. President Donald Trump's announcement of sweeping tariffs that will escalate a global trade war and threaten to upend the...
Copyright 2023-2026 - www.financetom.com All Rights Reserved