Markets

TSX May Start Higher with Commodities

Canada's benchmark index looked set to start the shortened trading week in the positive territory, as oil prices firmed up.

Stock futures for the September quarter on the S&P TSX index were up 0.01% recently.

Action Economics said oil prices were higher as reopening oil refining facilities in storm-stricken locations in the U.S. generate demand for crude. The return of refinery activity has concomitantly caused gasoline prices to fall back to pre-hurricane levels.

Meanwhile, precious metals gained, with the dollar mixed on geopolitical concerns in the aftermath of North Korea's nuke test over the weekend.

The TSX shed 20 points on Friday, dragged down by materials and financials.

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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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