Stock futures pointed to a lower opening for Canada's main stock index on Monday, tracking declines in global markets, following the latest escalation in a trade dispute between the United States and China and Brent crude prices tumbled.
The S&P/TSX Composite Index popped 114.99 points to finish Friday at 16,450.14, another all-time record close.
The Canadian dollar gained 0.15 cents to 75.25 cents U.S. early Monday
June futures faded 0.6% Monday
Bombardier and its Canadian workers who assemble turboprops and the company's new top-of-the-line business jet have reached a new labor agreement, averting a potential strike, the company said on Sunday.
Acacia Mining said on Monday its majority shareholder Barrick Gold would not provide a new deadline for the completion of talks to end a crippling dispute over taxes in Tanzania after failing to meet a mid-year target to do so.
Desjardins raised the target price on Northland Power to $28 from $27.50
IA Securities raised the price target on Superior Plus Corp. to $15.50 from $15.00
ON BAYSTREET
The TSX Venture Exchange regained 0.91 points Friday to 756.24
ON WALLSTREET
U.S. stock index futures fell sharply ahead of Monday’s open, following negative trade seen in markets overseas.
Futures for the Dow Jones Industrials capsized 173 points, or 0.7%, to 24,426
S&P 500 futures dropped 13.75 points or 0.5%, to 2,745.75, while futures for the NASDAQ composite index plummeted 60.75 points, or 0.8%, to 7,162.
Carnival Corporation is one of a few companies set to announce earnings Monday morning.
Last week, President Donald Trump took to Twitter to threaten another set of tariffs, this time on the European Union. On Friday, the U.S. incumbent warned of a 20% tariff on all car imports from the EU, stating that if the bloc refused to remove duties on U.S. cars, then Washington would have no choice but to act on these levies.
Trump added over the weekend that "all countries that have placed artificial trade barriers and tariffs on goods going into their country" should get rid of them, or face reciprocation from the U.S.
Coming up Monday, at 10 a.m. ET, new home sales data is scheduled to be published, followed by the Dallas Fed's Texas manufacturing outlook survey at 10:30 a.m. ET.
In Japan, the Nikkei 225 slipped 0.8% Monday. In Hong Kong, the Hang Seng index slumbered 1.3%. European markets were also under pressure Monday
Oil prices gained 48 cents to $69.06 U.S. per barrel.
Gold prices increased 70 cents to $1,271.40 U.S. an ounce.
