Futures tracking Canada's blue-chip stocks on Monday were muted ahead of domestic inflation data, while investors weighed the Iran war stalemate.
The TSX lost 29.02 points to conclude Friday at 36,730.27. On the week, however, the index gained -349 points, or 0.96%.
September futures were flat on Monday,
The Canadian dollar inched 0.03 cents to 72.11 cents U.S.
In earnings reported late on Friday, financial software company Abaxx Technologies' net loss widened in the second quarter.
Separately, OceanaGold plans to acquire Australia's Ausgold in a deal valued at A$776 million ($552.74 million U.S.), the companies said on Monday.
On the geopolitical front, Iran called on the U.S. to accept defeat on Saturday, while President Donald Trump blasted Tehran as "very evil" and told Americans to prepare for continued high fuel prices as a result of the war.
On the economic scene, Statistics Canada reports the consumer price index rose 3.0% year over year in July, following a 2.8% gain in June. On a seasonally-adjusted monthly basis, the CPI increased 0.3% in July.
As well, Statistics Canada said 190,167 new motor vehicles were sold in Canada, an increase of 7.3% from the same month the previous year. In dollar terms, sales increased 9.1% in June compared with one year earlier.
Foreign investors added $40.8 billion of Canadian securities to their holdings in June, mainly acquisitions of federal government debt securities and private corporate bonds. Meanwhile, Canadian investors acquired $35.4 billion of foreign securities, primarily US corporate shares and bonds.
Finally, Federal Trade Minister Dominic Leblanc said Canada and the U.S. are still far from reaching a draft trade deal despite regular meetings.
ON BAYSTREET
The TSX Venture Exchange regained 3.74 points to 970.17. On the week, the index was ahead 15.3 points, or 1.6%.
ON WALLSTREET
S&P 500 futures were relatively unchanged on Monday, coming off the back of a third consecutive week of gains for the S&P 500.
Futures for the Dow Jones Industrials faded 124 points, or 0.2%, to 53,685.
Futures for the much-broader index forged ahead 8.25 points, or 0.1%, to 7,813.25.
Futures for the NASDAQ Composite grabbed 135.5 points, or 0.5%, to 30,277.25.
Shares of Micron Technology along with other chip stocks gained in premarket trading Monday after Bloomberg News reported that Anthropic’s second-quarter revenue was more than $11.5 billion, a massive jump from a year earlier. Micron was up more than 3%, while Intel and Broadcom each rose roughly 1%.
The S&P 500 notched a fresh all-time high last week following a blockbuster earnings season that’s buoyed investor sentiment. The stock market has continued to climb in the face of ongoing hostilities in the Middle East, as well as concerns around the artificial intelligence trade.
On the economic front, investors will be watching for the August Empire State manufacturing index, as well as the NAHB Housing Market Index for August.
In Japan, the Nikkei 225 index hiked 0.7%, while in Hong Kong, the Hang Seng popped 1.3%.
Oil prices hesitated four cents to $82.36 U.S. a barrel.
Gold prices slid $12.50 to $4,449.80 U.S an ounce.
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