Futures for Canada's main stock index nudged upward, as investors assessed the impact of the U.S. President's proposed tariffs, and braced for a wave of upcoming economic data.
The TSX Composite Index gained 265.26 points, or 1.1%, Friday, to close out the week and month at 25,393.45. Over the last five sessions, the index grabbed 246 points, or nearly a full percentage point.
March futures gathered 0.4% Monday.
The Canadian dollar gained 0.09 cents to 69.32 cents U.S. early Monday.
As the clock ticked towards the deadline for U.S. President Donald Trump's tariffs on Canada, Mexico and China, U.S. Commerce Secretary Howard Lutnick confirmed the tariffs on Canada and Mexico were slated to take effect on Tuesday.
However, President Trump will decide whether to maintain the proposed 25% tariff rate, leaving investors anxious.
On the economic calendar, the S&P Global Canada Manufacturing Purchasing Managers' Index for February was due for release at 9:30 a.m. EST.
ON BAYSTREET
The TSX Venture Exchange lost 1.2 points to end the week at 614.64, for a header on the week of 20 points, or 3.16%.
ON WALLSTREET
Stock futures shook off a weak February and a looming tariff deadline on Monday as investors clamored back into some of the more volatile investments of the past year like Tesla and bitcoin.
Futures for the Dow Jones Industrials climbed 103 points, or 0.2%, to 43,993
Futures for the S&P 500 index picked up 22.5 points, or 0.4%, to 5,985.75
Futures for the tech-heavy NASDAQ jumped 132.5 points, or 0.6%, to 21,052.
Futures got upward momentum from Tesla, which jumped more than 3% in early trading.
Cryptocurrencies also rallied after President Donald Trump announced the creation of a strategic crypto reserve for the U.S. that will include bitcoin and ether. Bitcoin jumped 10% to nearly $94,000 after dipping to a three-month low under $80,000 on Friday. Shares of crypto exchange stocks including Coinbase, Robinhood and MicroStrategy surged in Monday’s premarket.
Monday marks the start of a new trading month after the three major indexes notched losses for February. The S&P 500 declined 1.4% in the month, while the 30-stock Dow dropped 1.6%. The tech-heavy NASDAQ Composite was the underperformer with a 4% slide, marking its worst month since April 2024.
In Japan, the Nikkei 225 recovered 1.7%, while in Hong Kong, the Hang Seng edged ahead 0.3%.
Oil prices took on 38 cents to $70.14 U.S. a barrel.
Gold prices shone $37.40 to $2,885.90 U.S. an ounce.
