Futures Static After Tech Rally

(MENAFN- Baystreet) TSX Catches Rally Fever

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  • Another Day of Losses for TSX Previous Articles Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Friday, February 23, 2024

    Futures Static After Tech Rally Docebo, Pembina in Focus Futures for Canada's main stock index were muted on Friday after hitting a 22-month high on a tech-fueled rally in the previous session, while weakness in commodity prices weighed on the index.
    The TSX Composite sprang up 145.7 points to finish Thursday at 21,318.08.
    March futures were flat Friday.
    The Canadian dollar eked up 0.03 cents to 74.19 cents U.S.
    In Canadian corporate news, software firm Docebo reported its fourth-quarter results above analysts' estimates.
    Oil and gas transporter Pembina Pipeline reported a higher fourth-quarter profit per share than the previous year.
    The TSX Venture Exchange moved ahead 3.23 points Thursday to 553.25.
    Stock futures hovered around the flatline Friday, after the S&P 500 and the NASDAQ posted their best day since early 2023.
    Futures for the Dow Jones Industrials acquired 61 points, or 0.2%, to 39,185.
    Futures for the S&P 500 slid 3.25 points, or 0.1%, at 5,101.
    Futures for the NASDAQ ducked 11.5 points, or 0.1%, to 18,036.50.
    In premarket trading, Block surged more than 15% after fourth-quarter revenue surpassed Wall Street estimates. Carvana climbed 30% after the used car retailer said it expects retail units to grow in 2024.
    All three major averages are also now on track for winning weeks: The S&P 500 is pacing for a 1.6% advance, while the Nasdaq has gained 1.7%. The Dow is up 1.1% for the period.
    In Japan, markets were shuttered for holiday Friday, while in Hong Kong, the Hang Seng index retreated 0.1%.

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