Futures Travel Higher Ahead of Trade Deal
Futures tied to Canada's main stock index rose on Thursday, tracking a global market rally, spurred by U.S. President Donald Trump's promise of the first trade deal in his global tariff war.The TSX Composite Index climbed 186.46 points to close Wednesday at 25,161.18, a five-week high. June futures were up 0.5% Thursday. The Canadian dollar sank 0.25 cents to 72.03 cents U.S. In corporate news, Canadian Natural Resources beat analysts' estimates for first-quarter profit, as it benefited from higher oil and natural gas production.Late on Wednesday, Trump posted on Truth Social that he would hold an Oval Office news conference at 10 a.m. EDT on Thursday about a "major trade deal with representatives of a big, and highly respected, country," with reports suggesting this could be the U.K.The news followed hints of negotiations with the U.K.ON BAYSTREET The TSX Venture Exchange inched up 2.13 points Wednesday to 667.68.ON WALLSTREET Stock futures were higher Thursday after President Donald Trump announced that a trade deal between the U.S. and United Kingdom had been struck.Futures for the Dow Jones Industrials popped 359 points, or 0.9% to 41,573.Futures for the S&P 500 index zoomed 59.25 points, or 1.1%, to 5,711.25.Futures for the NASDAQ jumped 266.75 points, or 1.3%, to 20,227.75“The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come,” Trump said in a Truth Social post after teasing the announcement in previous posts.Trump said there will be a news conference at 10 a.m. EDT to announce the deal.Shares of megacap tech companies led the way higher in the pre-market, boosted on news that the Trump administration is preparing to rescind Biden-era artificial intelligence chip controls that would have taken effect later this month.Apple and Nvidia gained more than 1% each, while Meta Platforms advanced 2%. Tesla and Amazon also advanced more than 1% each.In Japan, the Nikkei 225 index gained 0.4% Thursday, while in Hong Kong, the Hang Seng also acquired 0.4%. Oil prices moved higher $1.06 to $59.13 U.S. a barrel. Gold prices dumped $45.30 to $3,346.60 U.S. an ounce.
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