(MENAFN- Baystreet) TSX Sags to Begin May, Despite Friday Gains
TSX Continues in Green
Markets Show Muscle
Futures Eke Higher Ahead of U.S. Jobs Numbers
Stocks Rise as Interest Rate Anxiety Eases Previous Articles Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Monday, May 6, 2024
Futures Soar Monday Pembina in Picture Futures for Canada's main stock index edged higher on Monday, indicating an upbeat start to the week, as gold and oil prices moved higher, while investors awaited more clues on the interest rate trajectory of central banks.
The TSX Composite stayed higher 124.19 points to close Friday at 21,947.41. On the week, however, the index trailed last Friday's close by 20 points, or 0.9%.
June futures climbed 0.5% Monday.
The Canadian dollar grabbed 0.11 cents to 73.15 cents U.S.
Reuters reported that China's Sinopec is in discussions with Pembina Pipeline for a liquefied natural gas (LNG) offtake agreement and equity stake in the Canadian company's proposed Cedar LNG project.
ON BAYSTREET
The TSX Venture Exchange forged ahead 1.28 points Friday to 581.70, though smarting from a loss on the week of 4.78 points, or 0.82%.
ON WALLSTREET
U.S. stock futures rose Monday, with Wall Street looking to build on the previous session's strong gains, after new jobs data revived hopes of the Federal Reserve cutting interest rates.
Futures for the Dow Jones Industrials leaped 118 points, or 0.3%, to 38,950.
Futures for the S&P 500 took on 17.25 points, or 0.3%, to 5,172.
Futures for the NASDAQ Composite progressed 44.75 points, or 0.3%, to 18,045.56.
While the peak of the first-quarter earnings season has passed, investors are still watching key companies set to report this week, including Dow member Disney on Tuesday and Uber on Wednesday.
On Saturday, Warren Buffett's Berkshire Hathaway reported a nearly 40% surge in year-over-year operating earnings for the first quarter. Berkshire also held its annual shareholder meeting.
In Japan, markets remained shuttered by holiday, while in Hong Kong, the Hang Seng Index jumped 0.6%.
Oil prices hiked 81 cents to $78.92 U.S. a barrel.
Gold prices moved higher $20.80 to $2,329.40 U.S. an ounce.
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