TSX Has Day All to Itself, Futures Pop

Futures for Canada's main stock index rose on Monday, helped by signs the United States and Iran are nearing a peace deal, which pressured oil prices and eased inflation concerns.

The TSX Composite Index progressed 61.87 points to close Friday at 34,471.36. On the week, the index climbed 638 points, or 1.9%.

June futures popped 1.1% Monday.

The Canadian dollar dipped 0.06 cents to 72.38 cents U.S.

Investors also await quarterly results from major banks, including Royal Bank of Canada, Toronto-Dominion Bank and Bank of Montreal, among others, due later this week.

U.S. President Donald Trump said on Saturday a peace deal had been “largely negotiated that could reopen the Strait of Hormuz.” However, both parties played down hopes for an imminent breakthrough in their three-month-old war, keeping gains in check.

ON BAYSTREET

The TSX Venture Exchange moved lower 4.5 points Friday to 973.47. On the week, the index lost 15.3 points, or 1.6%.

In Japan, the Nikkei 225 sprang up 2.9% Monday, while markets in Hong Kong were closed for holiday.

Oil prices sank six dollars to $90.60 U.S. a barrel.

Gold prices surged $50.40 to $4,573.600 U.S an ounce.

ON WALLSTREET

American stock markets were closed for the Memorial Day holiday.

Uncle Sam Takes Holiday