TSX Set for Strong Start As Commodities Rise
Canada's benchmark index looked set to open higher on Tuesday, drawing support from rising commodity prices.
Stock futures for the December quarter on the S&P TSX index were up 0.02% recently.
Oil was in the green, and Action Economics said the market continues to gyrate into next week's OPEC meeting, where expectations remain high that the cartel and non-OPEC producers will extend the current agreement to cap production. Such an outcome will keep prices supported, though gains toward $60 will likely see U.S. shale producers ramp up production, which could quickly kill a rally.
The TSX added 5 points on Monday, with tech, telecom, and financial stocks leading the advance.