Futures for Canada's main stock index were lower on Monday as oil prices fell on the back of easing concerns about supply disruptions and potential production increases by countries such as Russia.
The S&P/TSX Composite Index eased back 6.3 points from Thursday’s all-time high to finish Friday and the week at 16,561.12
The Canadian dollar picked up 0.17 cents at 76.11 cents U.S. early Monday
September futures were down 0.1% Monday
Shares of Callidus Capital, owned by private equity firm Catalyst Capital Group, slumped nearly 29% on Friday after the Canadian lender eliminated its dividend payments to support business growth.
RBC raised the target price on Maple Leaf Foods to $36.00 from $34.00
RBC raised the target price on Saputo to $52.00 from $49.00
RBC raised the rating on West Fraser Timber to outperform from sector perform
On the economic scene, Statistics Canada reported foreign investment in Canadian securities slowed to $2.2 billion in May, down from $9.1 billion in April. Meanwhile, Canadian investors resumed their investment in foreign securities by adding $5.7 billion worth to their holdings, mainly in foreign bonds.
The Canadian Real Estate Association was also set to come out with re-sales of Canadian homes for June
ON BAYSTREET
The TSX Venture Exchange lost 3.73 points Friday to 725.24.
ON WALLSTREET
U.S. stock index futures were little changed on Monday as the corporate earnings season was in full swing.
Futures for the Dow Jones Industrials gained 20 points, or 0.1%, to 25,024
S&P 500 futures faded 0.5 points to 2,802.75, while futures for the NASDAQ composite boosted 5.75 points to 7,398.75
BlackRock reported second-quarter earnings and revenue before the bell, along with Bank of America and J.B. Hunt. BlackRock's earnings were driven in part by a lower corporate tax rate, while Bank of America got a boost from cost cuts and lower taxes. J.B. Hunt's results were helped by higher rates and increased volume.
Streaming giant Netflix is set to report Monday after the close.
Wall Street has high hopes for this earnings season, with analysts expecting second-quarter profits to have grown by 20% from last year,
Investors also looked to Helsinki as President Donald Trump and Russia's Vladimir Putin had their first official dialogue.
The meeting comes just days after the U.S. Justice Department announced that special counsel Robert Mueller had acquired an indictment, that charges a dozen Russian intelligence officers with hacking Democrats to interfere in the U.S. election in 2016, and with stealing information of around half a million U.S. voters.
On the economic front, retail sales are due out at 8:30 a.m. ET, along with the Empire State Manufacturing survey. Business inventories will then be released at 10 a.m. ET.
Overseas, in Japan, markets were shuttered for holiday, while in Hong Kong, the Hang Seng index eked up 0.1%.
Oil prices dropped $1.38 to $69.63 U.S. a barrel.
Gold prices popped $2.80 to $1,244.00 U.S. an ounce.
