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Futures Hike Following Christmas Break

Baystreet.ca

Futures for Canada’s main stock index rose sharply on Friday, supported by higher oil prices as upbeat economic data from China and the United States restored confidence in global growth.

The TSX Composite Index gained 51.44 points Tuesday to break for Christmas at 17,180.15

The Canadian dollar was up 0.15 cents U.S. to 76.42 cents early Friday

March futures vaulted 0.4% Friday.

Markets were closed on Wednesday for Christmas and Thursday for Boxing Day.

Private equity firm KKR & Co Inc and Alberta Investment Management Corp would jointly buy a 65% stake in TC Energy Corp’s Coastal GasLink Pipeline in Canada, KKR said on Thursday.

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Israel’s Harel Insurance Investments and Financial Services said on Wednesday it would invest up to $1.2 billion together with Manulife Investment Management in U.S. real estate.

ON BAYSTREET

The TSX Venture Exchange added 2.07 points Christmas Eve to 556.

ON WALLSTREET

U.S. stock futures pointed to a higher open on Friday as optimism continues to drive the year-end rally.

Futures for the Dow Jones Industrials took on 89 points, or 0.3%, Friday to 28,708

Read: The Next Billion Dollar Trend In Entertainment

Futures for the S&P 500 gained 8.25 points, or 0.3%, at 3,252.75.

Futures for the NASDAQ Composite gained 34 points, or 0.4%, to 8,838.25. The major averages are set to hit new all-time highs.

The tech-heavy NASDAQ topped the 9,000 mark for the first time Thursday, lifted by a jump in Amazon shares on a record holiday shopping season.

NASDAQ has risen for 11 straight days, the longest winning streaking since July 2009. The S&P 500, up already 29.2% in 2019, is inches away from reaching historic proportions. The benchmark will post its best year since 1997 with an annual gain of more than 29.6%.

No economic data or earnings are scheduled for Friday.

Overseas, in Japan, the Nikkei 225 slid 0.4%, Friday, while in Hong Kong, the Hang Seng Index jumped 1.3%.

Oil prices nicked higher five cents to $61.73 U.S. a barrel.

Gold prices headed higher $1.40 to $1,515.80 U.S. an ounce.