Big Recovery Due Monday for TSX

The S&P/TSX lost 241.08 points, or 1.2%, to close Friday and the week at 20,790.73. Over the last five sessions, the index moved forward, however, 42 points, or 0.2%.

June futures improved 0.6% Monday.

The Canadian dollar captured 0.16 cents to 79.61 cents U.S.

Air Canada is expecting a demand for flights between Canada and the Asia-Pacific to recover to a near pre-pandemic level by December next year.

CIBC raised the rating on Canadian National Railway to outperform from neutral.

National Bank started coverage on Dentalcorp Holdings with an outperform rating

CIBC cut the rating on Martinrea International to neutral from outperform.

ON BAYSTREET

The TSX Venture Exchange lurched lower 8.36 points, or 1.2%, to 720.11. The loss on the week was four points, or 0.6%,

ON WALLSTREET

Stock futures jumped Monday as Wall Street tried to rebound from a losing week.

Futures for the Dow Jones Industrials leaped 259 points, or 0.8%, Monday to 33,147.

Futures for the S&P 500 hiked 42.75 points, or 1%, to 4,149.75.

Futures for the NASDAQ Composite index perked 176 points, or 1.4%, to 12,727.

The stock market has had a volatile year with the major averages pulling back double digits from their record highs. The S&P 500 is off by 14.7% from its all-time high reached in January. The equity benchmark briefly dipped into bear market territory last month.

Shares of Amazon rose 1.5% in pre-market trading ahead of the first trading session since a 20-for-1 stock split.

Sentiment got a boost early on after Beijing rolled back some COVID-related restrictions.

Meanwhile, The Wall Street Journal reported that Chinese regulators are wrapping up their investigations into ride-hailing giant Didi — potentially signaling that the country’s crackdown on its tech sector may be coming to an end.

In Japan, the Nikkei 225 gained 0.6% Monday. In Hong Kong, the Hang Seng hiked 2.7%

Oil prices grabbed 14 cents to $119.01 U.S. a barrel.

Gold prices jumped $6.40 to $1,856.60 U.S. an ounce.