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Futures Wilt Monday on Oil Prices

Wholesale Trade Inches Up


Stock futures pointed to a lower opening for Canada's main stock index on Monday due to a drop in oil prices.

The S&P/TSX Composite rocketed 138.07 points to close Friday and the week at 15,547.88, with futures off 0.08% early Monday.

The Canadian dollar was unchanged at 75.16 cents early Monday.

On the economic calendar, Statistics Canada reported that wholesale trade edged up 0.2% to $56.9 billion in November, a second consecutive increase.

ON BAYSTREET

The TSX Venture Exchange gained 4.45 points Friday to 797.59

ON WALLSTREET

U.S. stock index futures pointed to a lower open on Monday as traders paused for breath after the inauguration of President Donald Trump.

Ahead of the opening bell, futures for the Dow Jones Industrials sank 17 points, or 0.1%, at 19,728. Futures for the S&P 500 fell 4.25 points, or 0.2%, to 2,261.75. NASDAQ futures slid 9.5 points, or 0.2%, at 5,048.75.

On the earnings front, McDonald's is set to report before the bell. Yahoo and ResMed are both due to report after the market close. Halliburton reported mixed quarterly results before the bell, sending the stock slightly lower.

Trump signed an executive order on Monday that will put in motion the renegotiation of the North America Free Trade Agreement.

President Trump is also expected to sign an executive order announcing his intention to withdraw from the Trans-Pacific Partnership, a trade agreement among 11 other Pacific Rim countries.

In Europe, markets were marginally lower early Monday afternoon. In Asia, the Shanghai Composite in China closed 0.4% higher, while the Nikkei in Japan closed 1.3% lower.

Oil prices dipped 75 cents to $52.47 U.S. a barrel

Gold prices spiked $7.10 to $1,212 U.S. an ounce.