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Stocks to Start Week Downward

Parkland in Focus

Futures for Canada's main stock index dipped on Monday, as investors remained cautious ahead of U.S. economic data and the Bank of Canada's monetary policy decision this week, while lower crude oil prices also weighed.

The TSX Composite popped 188.74 points to close Friday at 21,552.35, for a gain on the week of 139 points, or 0.65%.

March futures sank 0.3% Monday.

The Canadian dollar dipped 0.01 cents to 73.71 cents U.S.

Fuel retailer Parkland Corp's biggest shareholder Simpson Oil said on Sunday it would evaluate options to protect its rights after Parkland advanced its annual meeting, limiting Simpson's ability to nominate directors.


The TSX Venture Exchange zoomed 11.49 points, or 2%, Friday to 571.60, to march ahead 23 points, or 4.28% on the week.


U.S. stock futures fell slightly Monday after the tech-heavy NASDAQ Composite posted a record-high Friday, breaking its 2021 record, as stocks attempt to continue their weeks-long rally.

Futures for the Dow Jones Industrials moved lower 114 points, or 0.3%, to 39,028.

Futures for the S&P 500 fell 5.75 points, or 0.1%, to 5,140.

Futures for the NASDAQ gained eight points to 18,346.25.

Lyft shares rose more than 5% in the premarket after an upgrade to outperform from sector perform by RBC. Super Micro Computer hiked more than 13% and Deckers Outdoor rallied more than 4%, following the S&P Dow Jones Indices announcement that the pair will join the S&P 500 later this month.

Stocks have been racing higher, fueled by enthusiasm over artificial intelligence, with the NASDAQ soaring to an all-time high on Friday—making it the last of the major stock indexes to reach a record close this year. The S&P 500 and the NASDAQ last week reached their seventh weekly gain in eight, while the Dow ended the week in the red.

With markets having digested a better-than-expected earnings season and a hotter-than-expected consumer price index report, investors now are turning their attention back to inflation and the job market.

This week, investors will look for clues about the future direction of interest rates from Federal Reserve Chair Jerome Powell’s monetary policy updates to the House of Representatives on Wednesday and to the Senate on Thursday.

The ADP Employment Survey and January job openings data will be released on Wednesday, providing further insight into the labor market. Manufacturing and nonfarm payrolls data for February will also be released on Friday.

In Japan, the Nikkei 225 jumped 0.5% Monday to surpass the 40,000 mark for the first time, while in Hong Kong, the Hang Seng index made do with a gain of 6.5 points.

Oil prices lost 34 cents to $79.63 U.S. a barrel.

Gold prices sank $4.70 to $2,091.00 U.S. an ounce.