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Futures Inch Higher

Baystreet.ca
Stock futures pointed to a higher opening for stock markets in Canada’s biggest centre on Monday as ...

Stock futures pointed to a higher opening for stock markets in Canada’s biggest centre on Monday as investors expected that the weekend's missile attacks on Syria would not escalate into a wider conflict.

The S&P/TSX Composite Index enjoyed narrow gains of 4.7 points to close the day and the week at 15,273.97

The Canadian dollar dipped 0.1 cents to 79.33 cents U.S. early Monday

June futures moved up 0.1% Monday.

Prime Minister Justin Trudeau on Sunday moved to end an escalating crisis over a Kinder Morgan Canada oil pipeline, saying Ottawa was prepared to offer financial aid to ensure the project went ahead.

Barclays cut the target price on Cogeco Inc. to $60.00 from $75.00

On the economic front, the Canadian Real Estate Association reported that home sales via Canadian MLS Systems edged up 1.3% from February to March 2018.

CREA added that, despite having improved marginally in March, national sales activity in the first quarter slid to the lowest quarterly level since the first quarter of 2014.

ON BAYSTREET

The TSX Venture Exchange advanced 13.57 points, or 1.7%, Friday to 795.94

ON WALLSTREET

U.S. stock index futures jumped ahead of Monday's open following a series of targeted missile strikes against Syria while investors also looked to upcoming corporate earnings results.

Futures for the Dow Jones Industrial Average soared 142 points, or 0.6%, to 24,478

S&P 500 futures gained 15.25 points, or 0.6%, to 2,672.50, while futures for the NASDAQ composite index hiked 40.75 points, or 0.6%, to 6,681.50

In earnings news, Bank of America reported better-than-expected earnings and revenue on loan growth. Netflix is set to report its quarterly results after the bell Monday.

Netflix shares rose more than 1% before the bell, while Bank of America gained 0.9%.

Last week, the U.S. military conducted precision missile strikes against the Syrian government as a response to a chemical attack carried out in the country. The attack was conducted in conjunction with France and the U.K.

The Pentagon described the U.S.-led strikes as a "justified, legitimate and proportionate response" to the Syrian regime's continued use of chemical weapons. Consequently, oil prices fell on Monday.

On Monday, data and earnings are likely to keep investors busy. Retail sales and the Empire State manufacturing survey were both due out at 8:30 a.m. ET, followed by business inventories and the NAHB/Wells Fargo Housing Market Index at 10 a.m. ET. Treasury International Capital (TIC) data will be released at 4 p.m. ET.

For example, in Japan, the Nikkei 225 gained 0.3%, but in Hong Kong, the Hang Seng Index settled 1.6%.

Oil prices slid 80 cents to $66.59 U.S. per barrel.

Gold prices ventured backward 70 cents to $1,347.20 U.S. an ounce.