TSX Futures on Rise
Futures for Canada's main stock index rose on Tuesday, as investors awaited updates on trade deals ahead of domestic inflation data due later in the day.
The TSX Composite Index moved ahead 74.45 points to conclude Friday at 25,971.93, for a gain on the week of 614 points, or 2.4%.
June futures gained 0.3% Tuesday.
The Canadian dollar nudged 0.06 cents to 71.71 cents U.S.
Markets in Canada were closed Monday for Victoria Day.
On Sunday, U.S. Vice President J.D. Vance discussed fair trade policies with Prime Minister Mark Carney in Rome, Vance's office said in a statement, as the two nations try to resolve a dispute over tariffs.
Later on Tuesday, finance leaders from the Group of Seven industrialized democracies will meet in Canada. They will strive for unity on non-tariff issues, but may have trouble reaching consensus with a Trump administration intent on pushing allies to serve U.S. interests.
On the economic slate, Statistics Canada’s Consumer Price Index rose 1.7% year over year in April, down from a 2.3% increase in March. On a seasonally adjusted monthly basis, the CPI fell 0.2% in April.
ON BAYSTREET
The TSX Venture Exchange galloped 8.8 points, or 1.3%, Thursday to 667.45.
ON WALLSTREET
Stock futures slipped early Tuesday, putting the S&P 500's six-day winning streak in jeopardy.
Futures for the Dow Jones Industrials index gained eight points to 42,893
Futures for the S&P 500 index settled 9.75 points, or 0.2%, to 5,972.75
Futures for the NASDAQ faded 47.75 points, or 0.2%, to 21,479.75.
Shares of Home Depot were trading 2% higher in Tuesday’s premarket hours, after the home improvement retailer stuck by its full-year guidance, expecting total sales for the full year to grow by 2.8%.
CFO Richard McPhail also said the company doesn’t have any plans to raise prices in the face of higher tariffs.
The moves in futures follow a relatively calm trading session on Monday that saw the S&P 500 grind higher by 0.09% for its sixth straight positive session. The Dow gained about 137 points, or 0.32%, while the NASDAQ Composite ticked up just 0.02%.
While Monday’s gains were marginal, they do add to what has been a rapid and sharp rebound for stocks over the past five weeks. The S&P 500 is now just 3% from its record high.
The gains came despite continued uncertainty around the impact of tariffs on the economy and worries about a potential U.S. recession.
Investors even shrugged off the downgrade of the U.S. government’s credit by Moody’s Ratings.
In Japan, the Nikkei 225 index edged up 0.1% Tuesday, while in Hong Kong, the Hang Seng progressed 1.5%.
Oil prices dropped 14 cents to $62.55 U.S. a barrel.
Gold prices hiked $7.50 to $3,241 U.S. an ounce.
