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S&P/TSX Composite Index

15,857.22 real time data change up
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Change: 39.22 (0.25%)

S&P/TSX Venture Composite Index

789.51 real time data change up
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Change: 7.44 (0.95%)
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9:21 AM EDT, October 02, 2017
Markets Set to Thrive Monday

Futures for Canada's main stock index pointed to a higher opening on Monday after stocks rose to a four-month high on Friday.

The S&P/TSX Composite Index advanced 16.69 points to finish Friday, the week, month, and third quarter at 15,634.94

December futures climbed 0.3% Monday morning.

The Canadian dollar fell back 0.46 cents to 79.97 cents U.S. Monday morning.

Metro Inc, Canada's third-biggest food retailer, said it would buy pharmacy chain Jean Coutu Group for $4.5 billion.

A Canadian judicial review that could overturn the federal approval of Kinder Morgan Canada Ltd's Trans Mountain pipeline expansion will begin in Vancouver.

U.K. Finance Minister Philip Hammond said his country would continue to lobby the United States over a trade dispute with Canadian planemaker Bombardier, but said there were limits to what it could achieve.

Deutsche Bank raised the price target on Blackberry Corp. to $8.25 from $7.50

Desjardins raised the price target on Intact Financial Corp. to $100 from $98

ON BAYSTREET

The TSX Venture Exchange strengthened 5.11 points Friday to 781.23

ON WALLSTREET

U.S. stock index futures pointed to a higher open on Monday morning as investors waited to hear from President Donald Trump and monitored new manufacturing data.

Futures for the Dow Jones Industrials gained 59 points, or 0.3%, to 22,405.

S&P 500 futures picked up five points, or 0.2%, to 2,521, while futures on the NASDAQ Composite index gained 15.5 points, or 0.3%, to 5,998.

In the corporate world, Cal-Maine Foods is set to release its latest earnings figures before the bell.

Trump is set to speak on deregulation efforts on Monday to an audience of regulatory experts in an attempt to showcase what his administration has done to eliminate excessive, job-killing regulations.

Furthermore, Trump has said that he will decide who is going to replace Janet Yellen as the chair of the U.S. Federal Reserve in the next two to three weeks.

On the data front, there will be manufacturing Purchasing Managers Index figures for the month of September out at 9:45 a.m. ET and Institute for Supply Management manufacturing data out at 10 a.m. ET. Both numbers will shed a light on the labor market ahead of the employment report due later this week.

Overseas, European stocks started October on a higher footing nearing noon on the continent Monday, while Japan's Nikkei 225 inched up 0.2%, while markets in Hong Kong, China and Korea were closed for public holidays,

Oil prices slid $1.20 to $50.47 U.S. per barrel.

Gold prices fell $10.20 to $1,274.60 U.S. an ounce.



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