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Market Wrap: pre-opening session |
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U.S. market futures gain ground as oil prices decline and ahead of Chinese President Xi Jinping state visit to the U.S. on Thursday.
On Friday, the Nasdaq 100 rose 197 points (+0.67%) to 29,644, lifted by strength in technology and crypto-linked stocks. The S&P 500 edged up 12 points (+0.17%) to 7,650, while the Dow Jones fell 95 points (-0.18%) to 51,682.
On the stat front, in the U.S., the Chicago Fed National Activity Index is expected to climb at 0.20 in August vs -0.08 in July.
European indices bounce.
Asian indices rose. Japanese markets are closed Monday through Wednesday for public holidays, and will reopen on Thursday.
WTI crude oil prices decline for a fourth straight session as Iranian President Masoud Pezeshkian is expected to attend this week’s U.N. General Assembly in New York, while U.S. President Donald Trump has expressed openness to holding talks with him.
Gold consolidates below the key 4,400 dollars threshold.
Bitcoin soars, crossing above the 82,000 dollars threshold and trading at its highest since late January.
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Coinbase (COIN), a cryptocurrency exchange platform, and other crypto-linked stocks jump as Bitcoin trades over seven-month high.
Warner Bros. Discovery (WBD) and Paramount Skydance (PSKY), media and entertainment companies, both rise after the Wall Street Journal reported that California’s attorney general and Paramount are in talks to resolve a lawsuit seeking to block the company's merger with Warner.
Accenture (ACN), a leading global professional services company, is well oriented after announcing a partnership with Anthropic "to establish a team of embedded evaluators to work alongside Anthropic’s internal teams and safety partners to evaluate and red-team models, conduct alignment assessments, and test model safeguards. The companies each expect to invest at least 1 billion dollars over five years in AI safety".
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No major earnings release expected.
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On Friday, the S&P/TSX Composite Index dropped 0.19% to 35,806 and the S&P/TSX 60 Index slid 0.35% to 2,101.
Artemis Gold (ARTG), a gold producer, agreed to buy Vista Gold (VGZ) for a total transaction value of about 427 million dollars.
Capstone Copper (CS), a mining company, "announced that it has entered into a definitive agreement to sell its Cozamin copper-silver-zinc-lead mine, located in Zacatecas, Mexico, to Luca Mining (LUCA) for up to 385 million dollars in total consideration".
Dollarama (DOL)'s, a value retailer, target price was cut to 210 dollars from 220 dollars at Scotiabank.
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