Canadian stock futures slipped on Monday as investors fretted over U.S. President Donald Trump's ability to push through his agenda of tax cuts and fiscal spending after his party pulled the healthcare reform bill on Friday.
The S&P/TSX Composite Index stayed 9.06 points north of breakeven to end Friday and the week at 15,442.67. June futures moved downward 0.2% on Monday.
The Canadian dollar dipped 0.02 cents to 74.89 cents U.S. early Monday.
Dominion Diamond Corp., which is being pursued by Washington Cos and Stornoway Diamond, said it would explore strategic alternatives, including a sale.
Desjardins raised the target price on BRP Inc. to $35.00 from $33.00
CIBC cut the price target on Klondex Mines to $7.00 from $7.50
National Bank Financial cut the target price on K Bro Linen to $37.00 from $45.00
ON BAYSTREET
The TSX Venture Exchange regained 2.24 points to 803.60 Friday
ON WALLSTREET
Wall Street futures underlined a global market selloff on Monday as investors worried over the potential knock-on effects of U.S. President Donald Trump's surprise failure to deliver on health-care reform.
Ahead of the opening bell, futures for the Dow Jones Industrials plummeted 147 points, or 0.7%, to 20,428. Futures for the S&P 500 sank 20.25 points, or 0.9%, to 2,324.50. NASDAQ futures fell 40.5 points, or 0.8%, to 5,338.25
Monday will see Red Hat and Synnex among the major companies due to report after the market close.
Economically speaking, the Dallas Fed survey for March is scheduled to be released at around 10:30 a.m ET.
Trump's perceived inability to garner enough support from his own Republican party to repeal and replace Obamacare appeared to dent the president's image as someone who could get deals done, which prompted concern among traders for future economic policies.
The depressed mood for investors was far-reaching as European markets, led by the U.K.'s FTSE 100 and German Xetra DAX, which fell over 0.6%
Elsewhere, Asia markets were mostly lower. The Japanese benchmark Nikkei 225 dropped by more than 1.4% as risk-off sentiment spurred a rush to safe-haven assets such as gold and the yen.
Oil prices dropped 50 cents to $47.47 U.S. per barrel.
Gold prices hiked $9.60 to $1,258.10 U.S. an ounce.
