Futures contracts for Canada’s main stock index rose slightly on Monday, indicating an optimistic start to the week, as gold and oil prices rose, while investors await more clues on the path of interest rates. interest of central banks.
June futures on the S&P/TSX index were up 0.5% as of 6:30 a.m. ET (10:30 a.m. GMT), mirroring gains among their Wall Street counterparts. [.N]
Spot gold prices rose almost 1%, benefiting from the weak US dollar, while Shanghai copper fell due to the lack of a clear improvement in demand in the real estate market Chinese in difficulty. [GOL/] [MET/L]
Oil futures rose after Saudi Arabia raised crude prices in June and the prospect of a ceasefire deal in Gaza was dim, rekindling fears of a worsening crisis. conflict in the Middle East. [O/R]
The Toronto Stock Exchange’s S&P/TSX Composite Index ended up 0.59% on Friday, part of a broader rally led by stocks in the technology and health sectors. [.TO]
Sentiment on Friday was also bolstered by data showing U.S. job growth slowed more than expected in April and annual wage gains declined, reinforcing bets on a rate cut in September by the Federal Reserve after its latest decision to hold rates.
On the data side, Canadian employment numbers are due later in the week, as well as a weekly report on jobless claims in the United States.
Investors will be closely analyzing Canadian economic data to gauge inflation after Bank of Canada Governor Tiff Macklem hinted at the possibility of a cut in June if Canadian inflation continues to fall.
In corporate news, Reuters reported that China’s Sinopec is in talks with Pembina Pipeline Corp for a liquefied natural gas (LNG) purchase deal and a stake in the Canadian company’s proposed Cedar LNG project.
COMMODITIES MARKET AT 6:30 a.m. ET
Gold futures: $2,328; +0.8% [GOL/]
US crude: $78.92; +1.0% [O/R]
Brent crude: $83.65; +0.8% [O/R]
