Top 5 events to follow in Canadian markets on October 4

Highlights

• The S&P/TSX composite index began the month of October on a better note on Friday, October 1.
• The Canadian market was likely to have been boosted by the positive gross domestic product (GDP) data projected for August.
• On Monday, October 4, however, Canadian stock futures noted a decline.

After closing September 2.5 per cent lower on Thursday, the S&P/TSX composite index began the month of October on a better note on Friday, October 1.

The benchmark stock index was up by 80.62 points, or 0.4 per cent, to close at 20,150.87, although it was down by 1.2 per cent for the week.

The Canadian market was likely to have been boosted by the positive gross domestic product (GDP) data projected for August and the smaller-than-estimated decline for July 2021, as per Statistics Canada.

On Monday, October 4, however, Canadian stock futures noted a decline as concerns around rising global inflation and China's real estate space put pressure on equities.

Here are a few events that can influence the markets in Canada on Monday, October 4.

Also read: Fobi (TSXV:FOBI) surged 650% in a year! A Canadian AI stock to buy?

Anticipation around rising inflation

Investors’ concerns regarding rising inflation around the world could continue to impact the stock markets as surge in commodity prices and the ongoing supply crunch persist.

Amid these fears, December futures on the Canadian main stock market index shrank by about 0.2 per cent, as of 7AM EST.

On Friday, the S&P/TSX Capped Energy was up by 0.52 per cent.

Also read: 5 TSX midcap stocks to buy

Latest data on building permits, oil and gas extractions, etc

Statistics Canada reported on Monday that value of building permits in the country dipped by 2.1 per cent to total at C$ 9.7 billion in the month of August 2021.

The reported pointed that while most provinces in Canada saw a rise in building permits for the month, significant decreases in Ontario and British Columbia managed to drag the national results down on a month-over-month (MoM) basis.

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Image description: Canada’s September 2020 manufacturing sales data

Latest data on the oil and gas extraction industry

The national data agency released another study on Monday that showed that Canada's oil and gas extraction industry’s total gross revenue shrank by 28.9 per cent year-over-year (YoY) in the pandemic-ridden year of 2020 to C$ 93.7 billion.

The StatCan report also noted that the oil and gas extraction enterprises in the country saw their total assets slim down by 13.7 per cent YoY to C$ 462.7 billion in 2020.

Bombardier (TSX:BBD.B) stocks could be one to watch

Stocks of Bombardier Inc rose by more than two per cent in the premarket trading hours on Monday, after having closed 2.3 per cent higher on Friday.

Last week, on September 30, the Canadian business jet maker said that it has received an order worth US$ 534 million to deliver 20 Challenger 3500 aircraft to an unnamed client.

Sun Life Financial Inc (TSX:SLF) expands business in US

On Sunday, October 3, financial services enterprise Sun Life Financial Inc said that it is set to purchase American oral healthcare firm DentaQuest.

The Canadian life insurance giant entered the acquisition deal for a value of about C$ 3.1 billion via its US business.

Sun Life Financial said that it is looking to expand its “leadership” into the US by buying the Boston-based company, which is said to be the biggest Medicaid dental benefits provider south of the border.