Futures Dip on Trade War Threat

Saputo, Weston in Focus

Stock futures pointed to a lower opening for Canada's main stock index on Monday amid worries about a global trade war.

The S&P/TSX Composite Index was negative 9.36 to end Friday and the week at 15,384.59

The Canadian dollar dipped 0.27 cents to 77.32 cents U.S. early Monday

March futures dipped 0.2% Monday.

Saputo Inc said on Monday it is discussing plans to sell a milk plant in Victoria state to address concerns from Australia's competition watchdog about its buyout of Murray Goulburn Co-operative.

Barclays raised the target price on George Weston to $109.00 from $108.00

RBC cut the rating on Sprott Inc. to underperform from sector perform

Ministers from the United States, Canada and Mexico meet on Monday to wrap up the latest round of the North American Free Trade Agreement talks under the shadow of U.S. President Donald Trump's proposed steep tariffs on steel and aluminum imports.


The TSX Venture Exchange regressed 3.26 points Friday to 826.06


U.S. stock index futures indicated a lower open on Monday, pulling back from the mixed to positive finish seen on Wall Street in the previous session.

Futures for the Dow Jones Industrial Average slid 42 points, or 0.2%, to 24,493

S&P 500 futures dropped 9.25 points, or 0.3%, to 2,681, while futures on the NASDAQ Composite fell 0.25 points to 6,804.50

YY Inc. is among a list of companies declaring earnings Monday.

The negative sentiment seen in U.S. futures is likely to be linked somewhat to the recent tariff announcements made by the U.S. president.

Last week, markets went on a roller-coaster ride during the last two trading days after Donald Trump announced that the U.S. would be imposing new tariffs on aluminum and steel, as early as this coming week. The news was met with criticism from a number of leaders, and investors have remained on edge, as Trump's announcement sparks fears of a trade war.

Switching focus to Monday's session, a services purchasing managers' index is due out at 9:45 a.m. ET, followed by the non-manufacturing Institute of Supply Management report on business, due out at 10 a.m. ET.

Overseas, in Japan, the Nikkei 225 tailed off 0.7%, while in Hong Kong, the Hang Seng Index drooped 2.3%.

Oil prices added 10 cents to $61.35 U.S. per barrel.

Gold prices gained 70 cents to $1,324.10 U.S. an ounce.