Gains Expected at Open in Toronto

Futures for Canada's main stock index inched upwards on Monday, indicating an upbeat start to the week, as copper prices moved higher, while investors await key economic data scheduled for later in the week to assess the interest rate cut trajectory for this year.

The TSX Composite Index slid 66.9 points Friday to 22,308.93. On the week, however, the index sprinted 361 points, or 1.65%.

June futures captured 0.2% Monday.

The Canadian dollar eked up 0.07 cents to 73.16 cents U.S.

Shares in Cardiol Therapeutics are on investors’ radar screens, along with those for Premium Brands, on the release of quarterly earnings for both stocks.

On the economic calendar, building permits decreased 11.7% to $10.5 billion in March.

ON BAYSTREET

The TSX Venture Exchange stepped forward 1.41 points to end the week at 597.36. Over the last five sessions, the index triumphed more than 15.6 points, or 2.69%.

ON WALLSTREET

Stock futures rose slightly Monday, with Wall Street looking toward fresh inflation data this week.

Futures for the Dow Jones Industrials progressed 65 points, or 0.2%, to 39,707.

Futures for the S&P 500 grabbed 12 points, or 0.2%, at 5,258.25.

Futures for the NASDAQ Composite gained 60 points, or 0.3%, to 18,315.

GameStop shares rallied more than 37% in the premarket after “Roaring Kitty” posted for the first time in roughly three years.

Investors will look for insights into the Federal Reserve’s monetary policy moving forward with April’s consumer price index report due out on Wednesday. Traders hope that a return to rate hikes is largely off the table for the Fed despite a slew of hotter-than-expected inflation prints in recent months.

In Japan, the Nikkei 225 fell 0.1%, while in Hong Kong, the Hang Seng Index gained 0.8%.

Oil prices added 58 cents to $78.84 U.S. a barrel.

Gold prices sank $22.10 to $2,352.900 U.S. an ounce.