Futures of Canada's main stock index were lower on Monday, as deepening U.S. trade wars fanned fears of a global economic slowdown.
The S&P/TSX Composite Index remained negative 51.75 points to finish Friday, the week and month at 16,037.49
The Canadian dollar gained 0.15 cents to 74.1 cents U.S. early Monday
June futures slid 0.2% Monday.
Canaccord Genuity raised the price target on B2Gold Corp. to C$5.75 from C$5.25
Raymond James raised rating on Centerra Gold to "outperform" from "market perform", and raises target price to $10.00 from $9.00
On the economic calendar, IHS Markit Canada puts out its Manufacturing Purchasing Managers Index for May (circa 9:30 a.m. ET)
ON BAYSTREET
The TSX Venture Exchange slipped 0.95 points Friday to 601.55.
ON WALLSTREET
U.S. stock index futures fell on Monday, the first trading day of June, after China’s rhetoric on U.S. trade relationship intensified over the weekend.
Futures for the Dow Jones Industrial Average stepped back 66 points, or 0.3%, to 24,754.
The Dow came into Monday’s session having logged in six straight weeks of losses, the index’s longest weekly slide since 2011.
Futures for the S&P 500 dipped seven points, or 0.3%, at 2,745.50.
NASDAQ futures slumped 33 points, or 0.5%, to 7,100.50
Shares of Boeing, a trade bellwether of global trade, fell 1.2%. Alphabet shares also dropped 3.4% after the Justice Department is reportedly investigating the tech company for antitrust violations.
Chinese Vice Commerce Minister Wang Shouwen said in a white paper Sunday that Washington would not be able to use pressure to force a trade deal on Beijing. He also refused to say whether the leaders of both countries would meet at the G-20 summit to work out an agreement later this month.
On the data front, a final reading of manufacturing PMI (Purchasing Managers’ Index) data for May will be released at around 9:45 a.m. ET. The Institute for Supply Management (ISM) manufacturing index for May, construction spending figures for April and latest light vehicle sales data will all follow slightly later in the session.
Overseas, the Nikkei 225 dipped 0.9% Monday, while in Hong Kong, the Hang Seng index lost more than seven points.
Oil prices gained 88 cents to $54.38 U.S. a barrel.
Gold prices hiked $11.20 to $1,322.30 U.S. an ounce.
Futures Skid as China Blames U.S. for Trade War
