Canadian Market Likely To Open On Positive Note

(RTTNews) - Higher Canadian and U.S. futures and firm precious metals prices point to a positive start for Canadian stocks Monday morning.

Oil prices dropped following remarks by U.S. President Donald Trump that renewed military strikes on Iran were "highly unlikely" while talks to end their eight-month-old conflict continue.

Investors await crucial U.S. inflation data due on Tuesday. The Producer Price Inflation data is due out on Friday.

In earnings news, Barrick Mining Corporation reported third quarter net earnings were $1.32 billion, or $0.80 per share, compared to net earnings of $1.30 billion, or $0.76 per share, a year ago. Adjusted net earnings were $1.35 billion, or $0.82 per share, compared to $0.98 billion, or $0.58 per share, in the prior-year period.

Constellation Software reported third quarter earnings per share of $32.91, compared with $20.01 a year earlier. Third quarter revenue came in at $3.51 billion, compared with $2.95 billion last year.

Canadian Utilities reported earnings per share of $0.43 in the third quarter of 2026, up from $0.40 a year earlier.

Endeavour Silver's earnings per share for the third quarter came in at $0.13, compared with $0.21 in the year-ago quarter.

NexGen Energy, Peyto Exploration and Jamieson Wellness are scheduled to report their quarterly earnings today.

Bay Street closed higher on Friday as expectations of a rate hike by the Bank of Canada in December lowered after today's unemployment numbers showed that the economy lost 4,700 jobs. In addition, diplomatic efforts by Qatar to defuse Iran crisis overshadowed concerns of a renewed U.S.-Iran war.

The benchmark S&P/TSX Composite Index settled at 35,789.09, up by 183.82 points or 0.52%.

Asian stocks ended mixed on Monday, even as artificial intelligence stocks recovered some ground lost in last week's sell-off on fears that tighter regulations on data center construction, energy use, and development costs could slow the AI infrastructure boom.

Investors digested mixed inflation data from China and braced for key U.S. inflation readings and earnings from major AI companies, including CoreWeave, Cisco and Applied Materials, due later in the week.

The major European stocks are up firmly in positive territory today with weak oil prices and softening bond yields contributing to the bullish sentiment.

West Texas Intermediate Crude oil futures are down $2.56 or 2.8% at $88.27 a barrel.

Gold futures are up $48.90 or 1.2% at $4,123.80 an ounce, while Silver futures are up $0.728 or 1.4% at $52.670 an ounce.