Futures linked to Canada’s main stock exchange rose on Monday, pointing to a positive start to November for the index following six straight months of gains.
On Friday, the S&P/TSX composite index rose by 0.3% to 30,260.74. For the month, the average edged up by 0.8%, securing its longest winning streak since 2021.
Sentiment remained resilient despite data which pointed to a contraction in Canadian growth in August. Still, an advance estimate indicated that the economy may have been able to avert a recession in the third quarter.
Financials and consumer discretionary stocks both climbed during the last trading day of October, offsetting a dip in the materials group, which was pulled down by a drop in gold prices.
U.S. futures tick up
U.S. stock futures rose after a positive October, with a raft of fresh corporate earnings in the spotlight as the ongoing government shutdown limits the release of key economic data.
At 06:46 ET, Dow Jones Futures climbed 22 points, or 0.1%, S&P 500 Futures gained 24 points, or 0.3%, and Nasdaq 100 Futures rose 153 points, or 0.6%.
The main averages of Wall Street ended higher on Friday, finishing off a busy week filled with mega-cap technology sector earnings, central bank interest rate decisions, and face-to-face trade talks between U.S. and Chinese leaders.
The S&P 500 and Dow Jones Industrial Average climbed 2.3% and 2.5%, respectively, in October, while the NASDAQ Composite outperformed, gaining 4.7%.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. Palantir leads earnings parade
More than 300 S&P 500 companies have posted third-quarter results thus far, and of those, over 80% have beaten expectations, according to data from FactSet.
There are another 100-plus companies reporting this week, including data analytics giant Palantir Technologies after the closing bell on Monday.
In August, the company, whose operations also involve software for the the defense sector, lifted its full-year revenue forecast for the second time in 2025, citing strong demand for its AI-linked services from both businesses and governments.
Advanced Micro Devices will report on Tuesday, with investors eyeing AI chip demand after strong results from rivals.
Meanwhile, Uber Technologies and McDonald’s are due on Wednesday, offering a snapshot of consumer spending and service-sector resilience.
Payrolls set to be shutdown casualty
The ongoing U.S. government shutdown, which is flirting with becoming the longest such closure in American history, has left investors and Fed policymakers without a range of critical data points needed to establish the state of the U.S. economy.
The trend is likely to continue this week, depriving markets of the latest nonfarm payrolls report, an all-important gauge of employment in the world’s largest economy that is typically released on the first Friday of every month. A tracker of job openings and labor turnover is also set to be postponed.
Investors are likely to turn to the ISM manufacturing release for November, which contains the employment component, due later in the session, for clues, as well as Wednesday’s ADP jobs release.
