Canada's main stock index pointed to a lower open on Monday as strains in emerging markets show little sign of abating and data showed China's economy is losing momentum.
The S&P/TSX composite index slid 40.34 points to end the day, week and month of January at 13,694.94, with futures off 0.1% Monday.
The Canadian dollar took on 0.29 cents U.S. early Monday to 90.27 cents U.S.
Replacing the Keystone XL pipeline with oil-laden freight trains from Canada may result in an average of six additional rail-related deaths per year, according to a U.S. State Department report that is adding to pressure for President Barack Obama to approve the line. TransCanada Corp. is the company at the centre of the controversy.
National Bank Financial raised the price target on Cascades Inc. to $8 from $7.50 based on positive momentum as it relates to pricing and costing
National Bank Financial started coverage on DeeThree Exploration with an outperform rating and price target of $11.50, believes the current valuation is reflective of top-tier growth metrics to date and go-forward targets
National Bank Financial raised the price target on TMX Group to $49 from $48 to reflect higher-than-expected secondary financings during the fourth quarter.
Euro-zone factories enjoyed their strongest month since mid-2011 in January as new orders flooded in, prompting them to take on new staff for the first time in two years, according to surveys.
Moreover, Asian manufacturing outside China showed signs of solid expansion in January as order books swelled, but factories in the region's giant struggled for growth, heightening concerns about an economic slowdown.
On items economic, Statistics Canada reported that its industrial product price index rose 0.7% in December, mainly because of higher prices for energy and petroleum products.
The raw materials price index rose 1.9% during the same month, led by crude energy products.
ON BAYSTREET
The TSX Venture Exchange slipped 1.60 points to end Friday at 951.28
ON WALLSTREET
Will the bull return to Wall Street in February? The week ahead will be key.
Ahead of the opening bell Monday, futures for the Dow Jones Industrials gained 23 points, or 0.2%, to 15,653. Futures for the S&P 500 nicked higher 4.60 points, or 0.3%, to 1,781.20, but futures for the NASDAQ subtracted six points, or 0.2%, to 3,508.
Data on auto sales from General Motors, Ford, Toyota and other big car and truck makers comes out Monday. Auto sales are often viewed as an important indicator of consumer spending.
Despite a decline in December sales, the auto industry has been thriving lately. GM shares, for example, are up 30% in the past year.
Earnings will continue to roll in this week. Of the 251 companies in the S&P 500 that have reported fourth quarter earnings so far, 74% have beat estimates, according to FactSet.
But investors are worried about the outlooks from big companies: 44 firms have issued negative guidance for the current quarter, compared with just ten who have issued positive guidance.
Twitter, will release its first earnings report since going public in November. It may be a misnomer to call them earnings though. Analysts are predicting a loss of two cents a share.
The stock has had a wild ride since its IPO. But most investors are still pretty bullish. The stock is up 150% from its offering price of $26 U.S. ... and is nearly 45% above its first day closing price. Shares rallied sharply late last week following strong results from social media rival Facebook.
Linkedin, AOL and Yelp are also on tap to report their latest quarterly results this week. So is Time Warner
Investors will have to wait until Friday for the biggest news of the week: the January jobs report.
The economy added only 74,000 jobs in December, but economists were quick to play down that report by blaming bad weather and pointing out that other economic data had been largely positive.
Investors will be looking at January's jobs number for assurances that the U.S. economy is continuing to pick up steam, as many economists have maintained.
But there will be another reading on the labour market Wednesday: Payroll processing firm ADP reports on private sector job growth.
While the ADP employment figure is often viewed as a precursor to the government jobs report, that was far from the case in December, when ADP data indicated robust private sector hiring only days before the weak report from the government.
Oil prices inched up two cents to $97.51 U.S. a barrel
Gold prices hiked $7.30 to $1,247.10 U.S. an ounce.
Related Stories
