By Ketki Saxena
Investing.com -- At the opening bell: The S&P/TSX Composite Index opened on a positive note this morning after a short trading week. As of 10:00 a.m in Toronto, the index was at 21,919.50 points, up +63.80 or +0.29% shortly after the opening bell.
Canada’s commodity-heavy benchmark index was driven higher by energy (2.29%) and materials (1.43%), which tracked the price of crude and gold, respectively.
At time of writing, WTI crude futures were trading at $107.84 a barrel, or up 1.37%, while Brent futures were at 113.38 a barrel, up 1.50%. Gold futures were at $1995.90 a troy ounce, up +1.15 so far today.
The week ahead in Canadian Earnings and Econ.
Major Canadian economic data this week includes latest inflation figures, for March. In February, the CPI was at 5.7%, the highest in over 30 years and well above the bank’s target of around 2%.
Economists are expecting the inflation reading to rise to 6.2%, driven primarily by the price of gasoline and home buying costs. The Canadian home price index is also expected this week, as well as retail sales, industrial products, and the raw materials price indices.
Earnings season is beginning to kick off in Canada, with quarterly results due from PrairieSky (TSX:PSK), Rogers Communications Inc (TSX:RCIa), and Metro (TSX:MRU) this week.
The season is in full swing south of the border. Major earnings this week will include Tesla (NASDAQ:TSLA), Netflix (NASDAQ:NFLX), Bank of America (NYSE:BAC), IBM (NYSE:IBM), Johnson & Johnson (NYSE:JNJ), Procter & Gamble (NYSE:PG), Halliburton (NYSE:HAL) and Schlumberger (NYSE:SLB).
Weekly Calendar: Canada, U.S. Earnings and Economic Events
Monday, April 18
- TSX Earnings: PrairieSky Royalty (TSX:PSK)
- In the U.S.: Bank of America Corp (NYSE:BAC), Charles Schwab (NYSE:SCHW)
Tuesday, April 19
- Notable data: Canadian housing starts
- Canadian international securities transactions
- Existing home sales
In the U.S.:
- Building permits and housing starts
- Netflix (NASDAQ:NFLX),IBM (NYSE:IBM), Johnson & Johnson (NYSE:JNJ), Baker Hughes, Halliburton Company (NYSE:HAL) earnings
Wednesday, April 20
In Canadian Econ:
- Canadian CPI
- Teranet/National Bank home price index
TSX Earnings: Rogers Communications (TSX:RCIa)
In the U.S.:
- U.S. Federal Reserve releases Beige Book, existing-home sales
- Tesla (NASDAQ:TSLA), Procter & Gamble (NYSE:PG), CSX (NASDAQ:CSX), Alcoa (NYSE:AA), United Airlines (NASDAQ:UAL)
Thursday, April 21
TSX Earnings: Metro Inc . (TSX:MRU)
In The U.S.:
Friday, April 22
In Canadian Econ:
- Retail sales
- Industrial product
- Raw materials price indices
In The U.S.: Newmont (NYSE:NEM), Schlumberger (NYSE:SLB), Kimberly-Clark (NYSE:KMB) earnings