Bay Street Looks Headed For Positive Start

(RTTNews) - Higher Canadian and U.S. futures, and firm European markets indicate a positive start for Canadian shares Monday morning. Worries about Middle East tensions and weak crude oil prices may weigh a bit on the market.

The U.S. Federal Reserve, Bank of England and Bank of Japan are set to hold their monetary policy meetings this week, with economists expecting a status quo policy from the U.S. central bank and the U.K. central bank.

Air Canada (AC.TO) reported a net income of $1.250 billion for the third quarter of this financial year, up from $1.758 billion from the third quarter of 2022. Diluted earnings per share was $3.08 in the third quarter, as against a diluted loss per share of $1.42 in the third quarter last year.

Ero Copper (ERO.TO) has announced that it has reached an agreement with Salobo Metais S.A. to acquire a 60% interest stake in Vale's Furnas copper project in Brazil.

TELUS International Inc (TIXT.TO) has announced the launch of of Fuel iX, the company's enhanced solution backed by generative AI to deliver end-to-end CX innovation and AI-fueled intelligent experiences.

The Canadian market ended weak on Friday, extending its losing streak to an eighth straight session, as worries about the outlook for interest rates, higher bond yields and geopolitical tensions continued to weigh on sentiment.

The benchmark S&P/TSX Composite Index ended down 137.92 points or 0.73% at 18,737.39. The index shed about 2% in the week.

Asian stocks ended mixed on Monday as the conflict in the Middle East continued, and investors looked for cues from a slew of central bank meetings due this week.

Analysts expect the Bank of Japan to potentially further tweak its yield curve control (YCC) policy when it meets on Tuesday.

European stocks are up in positive territory ahead of central bank meetings, crucial economic data, and earnings updates.

In commodities, West Texas Intermediate Crude oil futures are down $1.06 or 1.24% at $84.48 a barrel.

Gold futures are gaining $6.50 or 0.33% at $2,005.00 an ounce, while Silver futures are up $0.443 or 1.94% at $23.330 an ounce.