Futures for Canada’s main stock index slipped on Monday as investors remained cautioned ahead of domestic consumer inflation and retail sales data scheduled for later this week to assess the Bank of Canada’s monetary policy path.
The TSX Composite soared 122.7 points to close Friday at 20,175.77. On the week, the index climbed 521 points, or 2.65%.
December futures were down 0.1% early Monday.
The Canadian dollar eked up 0.01 cents to 72.89 cents U.S.
Among companies, First Quantum Minerals said it has further reduced ore processing at its mine in Panama, as blockades at a local port have disrupted shipments of supplies needed to power operations.
ON BAYSTREET
The TSX Venture Exchange spiked 11.62 points, or 2.2%, Friday to 530.50, for a jump on the week of 20 points, or 3.96%.
ON WALLSTREET
U.S. equity futures were little changed on Monday, as Wall Street started the shortened Thanksgiving holiday week.
Futures for the Dow Jones Industrials fell 32 points, or 0.1%, to 34,980.
Futures for the S&P 500 slipped 2.25 points, or 0.1%, at 4,525.25.
Futures for the NASDAQ inched up 0.25 points to 15,896.
Microsoft shares were up more than 1% after CEO Satya Nadella said former OpenAi chief Sam Altman will be joining the tech giant to lead a new AI research team.
U.S. markets will be closed Thursday due to the Thanksgiving holiday. Friday will also be a shortened trading day. Trading around the Thanksgiving holiday has been choppy in recent years, but November is still the best-performing month for the S&P 500, according to the Stock Traders’ Almanac.
Despite the short week, there are some key catalysts for the market ahead. Nvidia reports earnings Tuesday. The chipmaker is this year’s best-performing stock, up more than 200%.
Wall Street is coming off a winning weekly performance. The S&P 500 closed last week higher by 2.2% and the Dow added 1.9%, marking the first three-week streak for the indexes since July. The NASDAQ Composite finished the week higher by 2.4%, notching its best week since June.
In Japan, the Nikkei 225 dipped 0.6% Monday, while in Hong Kong, the Hang Seng gained 1.9%.
Oil prices leaped $1.46 to $77.38 U.S. a barrel.
Gold prices slipped $11.30 to $1,973.40 U.S. an ounce.
