Equities
Global stocks were set to extend their gains, with U.S. equities poised to record an eighth straight weekly advance, even as uncertainty continued to surround U.S.-Iran peace talks.
S&P 500 and Nasdaq futures rose 0.2 per cent, while Dow futures were up 0.3 per cent. TSX futures were down 0.02 per cent.
In Canada, investors are getting results from Atex Resources Inc.
“Our view is that equities will likely move higher over the medium term, based on a combination of strong earnings, oil prices that stay contained enough to avoid a broader growth shock, and a Federal Reserve that remains supportive,” said Mark Haefele, chief investment officer at UBS Global Wealth Management.
Overseas, the pan-European STOXX 600 was up 0.66 per cent in morning trading. Britain’s FTSE 100 rose 0.33 per cent, Germany’s DAX gained 1.02 per cent and France’s CAC 40 advanced 0.66 per cent.
In Asia, Japan’s Nikkei closed 2.68 per cent higher, while Hong Kong’s Hang Seng finished 0.86 per cent higher.
Commodities
Oil prices climbed as investors doubted the prospect of a breakthrough in U.S.-Iran peace talks, but held on track for a weekly loss.
Brent crude futures rose around 1 per cent cent to US$105.88 a barrel, while U.S. West Texas Intermediate futures were 0.2-per-cent higher at US$96.53.
“The optimism of a relatively imminent truce and bearish rhetoric whenever Brent approaches $110 prevents oil prices from rallying significantly higher,” said PVM Oil Associates analyst Tamas Varga.
In other commodities, spot gold was down 0.4 per cent at US$4,523.42 per ounce. U.S. gold futures for June delivery lost 0.4 per cent to US$4,524.30.
Currencies and bonds
The Canadian dollar weakened against its U.S. counterpart.
The day range on the loonie was 72.41 US cents to 72.62 US cents in early trading. The Canadian dollar was down about 0.93 per cent against the greenback over the past month.
The U.S. dollar index, which weighs the greenback against a group of currencies, was up 0.05 per cent at 99.265. The dollar was pegged at $1.3798.
The euro declined 0.09 per cent to US$1.1609. The British pound gained 0.13 per cent to US$1.3448.
In bonds, the yield on the U.S. 10-year note was last down at 4.548 per cent.
Corporate News
Restaurant Brands International plans to build 80 new Tim Hortons locations by the end of this year, and to renovate another 400 in that same period, Susan Krashinsky Robertson reports. That represents a total investment of $130-million by the company and another $270-million by its franchisees.
Economic news
Japan’s CPI
Germany’s GDP, business climate and consumer confidence
8:30 a.m. ET: Canadian retail sales for March. The Street expects a rise of 0.6 per cent.
8:30 a.m. ET: Canada’s industrial product and raw materials price indexes. Estimates are month-over-month increases of 1.5 per cent and 5.0 per cent, respectively.
10 a.m. ET: U.S. University of Michigan Consumer Sentiment Index for May.
10 a.m. ET: U.S. leading indicator for April. Estimate is a decline of 0.3 per cent from March.
10:30 a.m. ET: Bank of Canada’s Senior Loan Officer Survey for Q1.
With Reuters and The Canadian Press