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TSX May Open Higher on Rising Oil Prices, Trump Tax Cut Talk

Canada's benchmark index looked set to open higher on Friday, getting support from rising oil prices and U.S. President Donald Trump's tax cut talk.

Stock futures for the March quarter on the S&P TSX index were up 0.03% recently.

Oil prices were strong on Friday, and Action Economics ( AE ) said underpinning is an IEA report finding that the OPEC-led production cut agreement among major oil producing nations reached 90% compliance in January, the first of the six-month plan to lift crude prices.

Meanwhile, AE also said the global stock market rally that was sparked by Trump's reference to a "phenomenal" tax announcement, continued in Asia overnight but started to fade in the European a.m. session.

The TSX climbed 63 points on Thursday, led higher by energy stocks.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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