Stock futures for Canada's main index rose on Monday as energy shares gained on the back of rising oil prices, but the rise was capped by lingering U.S.-China trade war fears.
The S&P/TSX Composite Index was better by 11.78 points to end Friday and the week at 16,013.49
The Canadian dollar fell back 0.12 cents to 76.82 U.S. early Monday
September futures poked up 0.1% Monday
RNC Minerals recovered a 43-kg specimen stone containing an estimated 1,100 ounces of gold and a second 7-kg specimen containing 190 ounces from Beta Hunt Mine in Australia.
USD Partners LP has begun expansion work at one of Canada's largest crude by rail loading terminals, which will boost capacity at the facility by 50% and be completed by year end.
Canaccord Genuity raised the rating on Nighthawk Gold to speculative buy from hold, and the price target to $0.60 from $0.55
CIBC raised the price target on Alaris Royalty to $19.00 from $18.00
In things macroeconomic, Statistics Canada reported that foreign investment in Canadian securities reached $12.7 billion in July, mainly from acquisitions of federal government bonds. At the same time, Canadian investment in foreign securities totaled $13.1 billion, led by record purchases of foreign bonds.
Also, the Canadian Real Estate Association said national home sales via Canadian MLS Systems edged up by 0.9% in August 2018, marking a fourth consecutive monthly gain. However, CREA added, sales activity is still running below levels in most other months going back to early 2014.
ON BAYSTREET
The TSX Venture Exchange scrambled out of the red with gains of 0.84 points to end Friday at 715.16
ON WALLSTREET
U.S. stock index futures pulled back ahead of Monday's open, as investors kept abreast of a trade spat between two major economies.
Futures for the Dow Jones Industrials dipped 13 points, or 0.1%, to 26,172
S&P 500 futures lost 2.25 points, or 0.1%, to 2,908.75, while futures for the NASDAQ composite faded 15.75 points, or 0.2%, to 7,557.75
In earnings, FedEx and Oracle are both scheduled to publish earnings after the bell.
Investors will be keeping a close eye on stocks that can be impacted by natural disasters and weather, as the now-downgraded tropical depression Florence continues to wreak havoc on states including North and South Carolina.
Markets remain jittery on Monday following media reports, that President Donald Trump is looking to announce new tariffs on around $200 billion worth of Chinese imports as soon as Monday.
A senior administration official familiar with the matter told media outlets Sunday that the U.S. administration was readying a fresh round of tariffs.
On Monday, China's Foreign Ministry responded to speculation, stating that the government would retaliate in kind to the U.S. if it initiates fresh tariffs. This comes just days after news emerged that the U.S. was seeking to reignite trade discussions with China.
Overseas, in Hong Kong, the Hang Seng index erased 1.3%, while Japanese markets were closed for holiday.
Oil prices gained 52 cents to $69.51 U.S. a barrel.
Gold prices gathered 60 cents to $1,201.70 U.S. an ounce.
