Stocks Look To Soar Monday

(MENAFN- Baystreet)
Futures for Canada's main stock index edged higher on Monday, supported by higher commodity prices, at the start of a holiday-shortened week that has been traditionally beneficial for equities.
The TSX leaped 314.92 points, or 1%, to end Friday's session at 31,755.77. On the week, the gain was 228 points, or 0.7%,
The Canadian dollar muscled up 0.16 cents to 72.67 cents U.S.
Futures squeezed up 0.1% Monday.
TSX has gained 1.2% this month as strength in financial and gold stocks has outweighed volatility in technology and energy stocks. It is also set to outperform the major Wall Street indexes this year with a 28.5% rise, its best yearly showing since 2009.
The Canadian economy has shown resilience in the face of a tariff dispute with the U.S. Investors now look forward to whether Prime Minister Mark Carney's fiscal stimulus would unlock billions of dollars in investment.
In corporate updates, Brookfield Corporation filed for a mixed shelf offering, not disclosing the size.
On the economic schedule, Statistics Canada reported its industrial product price index increased 0.9% month over month in November and was up 6.1% year over year, while its raw materials price index increased 0.3% month over month and rose 6.4% year over year.
ON BAYSTREET
The TSX Venture Exchanged prospered 35.9 points, or 3.8%, to 977.98, picking up 22.6 points, or 2.38% on the week.
ON WALLSTREET
U.S. stock futures rose on Monday, spurred by a rise in technology shares, to start a shortened holiday week.
Futures for the Dow Jones Industrials acquired seven points to 48,472.
Futures for the hiked 28.25 points, or 0.4%, to 6,915.50.
Futures for the NASDAQ ballooned 167 points, or 0.7%, to 25,741.75.
Key stocks linked to artificial intelligence offered a boost to the broader market. Nvidia shares rose nearly 2% in premarket trading after Reuters said the company is looking to begin shipments of its H200 chips to China by mid-February. Meanwhile, Micron Technology gained 4% and Oracle climbed almost 3%.
Wall Street is coming off a mixed week for the major averages. A late-week surge in tech stocks helped lift the S&P 500 and NASDAQ Composite to their third winning week in four, up 0.1% and 0.5%, respectively. The 30-stock Dow, which has outperformed this month, fell 0.7%, snapping a three-week winning streak.
Overseas, the Nikkei 225 in Japan exploded 1.8% Monday, while in Hong Kong, the Hang Seng Index gained 0.4%.
Oil prices jumped $1.20 to $69.60
Gold prices improved $60.60 to $4,456.90.
Futures Gather Steam

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