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TSX Sags to Begin May, Despite Friday Gains Previous Articles Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Tuesday, May 7, 2024
Futures Set for Small Gains Ballard in Focus Futures for Canada's main stock index were muted on Tuesday, as declines in oil and gold prices were offset by reviving investor hopes of central banks cutting interest rates later in the year.
The TSX Composite boomed 312.06 points, or 1.4%, to finish Monday at 22,259.47.
June futures edged up 0.1% Tuesday.
The Canadian dollar receded 0.06 cents to 73.09 cents U.S.
quarterly earnings will pick up more pace with Ballard Power Systems among others set to report their figures before the bell on Tuesday.
Economically speaking, Western University's IVEY School of Business is poised to release its Purchasing Managers Index for April this morning (about 10 a.m.)
ON BAYSTREET
The TSX Venture Exchange climbed 8.4 points, or 1.4%, Monday to 590.10.
ON WALLSTREET
U.S. stock futures flickered near the flatline Tuesday as the Dow Jones Industrial Average looked to build on its fourth positive day in a row, and investors turned to the latest batch of earnings.
Futures for the 30-stock index inched up 27 points, or 0.1%, to 39,024.
Futures for the S&P 500 were unchanged at 5,206.50.
Futures for the NASDAQ Composite lost 32.5 points, or 0.2%, to 18,162.
Disney shares were flat after the media and entertainment giant posted better-than-expected quarterly figures. Its streaming business nearly broke even for the quarter.
Investors on Monday carried over the bullish market sentiment from Friday, when the latest nonfarm payrolls data showed that job growth came in below expectations in April and unemployment ticked higher. The results alleviated concerns that the economy was too hot and raised optimism around rate cuts from the Federal Reserve.
In Japan, the Nikkei 225 returned to trading with a gain of 1.6%, while in Hong Kong, the Hang Seng Index backed off 0.5%.
Oil prices gave up 0.31 cents to $78.17 U.S. a barrel.
Gold prices sank seven dollars to $2,324.20 U.S. an ounce.
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