Canadian stock index futures pointed to a lower open on Monday despite positive Chinese data, bucking the global market trend, as investors remained cautious about the potential timing of a scaling down of U.S. Federal Reserve stimulus.
The S&P/TSX composite index climbed 80.32 points Friday to end the week at 13,280.72, with Monday futures down 0.2%.
The Canadian dollar faded 0.15 cents at 93.78 cents U.S. early Monday
China's exports handily beat forecasts in November, adding to recent evidence of a stabilization in the world's second-largest economy as its leaders embark on an ambitious restructuring plan.
Raymond James raised the price target on ADF Group to $4 from $2.75 on the company's better-than-expected third-quarter results.
Barclays cut the target price on Empire Co. to $84 from $87 to reflect a more cautious earnings forecast
Raymond James raised the price target on MEG Energy to $42 from $41, says the company is a compelling near and long-term growth story
On the economic front, Canada Mortgage and Housing Corporation reported this morning that housing starts rose by 192,000 in November, in contrast with projections of 195,000 from experts.
ON BAYSTREET
The TSX Venture Exchange gained 1.87 points Friday to 916.65
ON WALLSTREET
Stock markets were poised for a flat start Monday, as the market slows down following a better-than-expected jobs report.
Ahead of the opening bell, futures for the Dow Jones Industrials inched up seven points to 16,020. Futures for the S&P 500 gained 2.5 points, or 0.1%, to 1,807.50, and futures for the NASDAQ gained 9.75 points, or 0.3%, to 3,513.75
Investors are also looking ahead to a big Monday merger: American Airlines and US Airways are set to come together to form the largest air carrier in the world. The combination of the two airlines is expected to create a company that's larger than the current industry leader, United Continental Holdings.
On the corporate side, automotive tire retailer Pep Boys is among the small number of firms scheduled to report quarterly earnings after the bell.
European markets were mostly higher in midday trading, while Asian markets ended with gains. Japan's Nikkei 225 was a standout performer, rallying by 2.3% as the yen slipped against the U.S. dollar.
Oil prices eked up three cents to $97.68 U.S. a barrel
Gold prices gained $1.20 at $1,230.20 U.S. an ounce.
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