Stocks in Canada’s biggest market looked set to open lower as investors focused on the prospect of an interest rate hike by the U.S. Fed in September and a fall in oil prices
The S&P/TSX composite index added 98.40 points to end Friday and the week at 13,865.07.
The Canadian dollar faded 0.34 cents to 75.40 cents U.S. early Monday
National Bank Financial cut the target price on Bank of Nova Scotia to $66.00 from $68.00, consider the bank’s third-quarter to be a miss on an operating basis.
KBW raised the target price on Canadian Imperial Bank of Commerce to $94.00 from $92.00, says the bank performed well in the third-quarter with good execution in retail & business banking and wealth management.
Snipp Interactive Inc reports Q2 earnings today, expecting breakeven per share
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ON BAYSTREET
The TSX Venture Exchange gained 10.12 points Friday to 555.67
ON WALLSTREET
U.S. stock futures are lower on Monday, and oil prices are falling 2%
Ahead of the opening bell, futures for the Dow Jones Industrials skidded 139 points, or 0.8%, to 16,520, futures for the S&P slid 16.25 or 0.8%, to 1,973.50, and futures for the NASDAQ dropped 29.25 points, or 0.7%, to 4,303.75.
Apple, one of the most heavily traded stock during last week's market turmoil, is edging 0.8% lower premarket. Facebook is 1.3% lower in premarket trading, while Home Depot is 0.8% down.
A small number of companies are reporting quarterly earnings on Monday: Robot maker Adept Technology, Matrix Service, and Bazaarvoice will all publish their results after the closing bell.
Speculation about when the U.S. Federal Reserve will raise interest rates is growing. The focus will be on Friday's crucial jobs report. Last week, data showed the U.S. economy grew faster than expected in the second quarter, reinforcing the case for a rate hike.
The Chinese market crash and yuan devaluation have muddied the waters, with some officials hinting the first rise in nearly a decade could be delayed.
But Fed Vice Chair Stanley Fischer said it's too soon to make judgments one way or the other about a rate hike in September.
European markets are mostly lower in early trading. Germany's DAX and France's CAC are both 1.3% lower. U.K. markets are closed for public holiday.
Euro-zone inflation was steady in August at 0.2%.
Asian markets closed the session mixed. Hong Kong's Hang Seng edged 0.3% higher, while Japan's Nikkei lost 1.3%.
Chinese stocks fell again Monday, after a wild ride last week, although the losses were relatively modest. The Shanghai Composite closed 0.8% lower Monday, while the smaller Shenzhen Composite was 3.1% down.
Chinese authorities have arrested nearly 200 people for alleged online rumour-mongering about China's stock market crash and a recent explosion in Tianjin.
Oil prices fell 87 cents to $44.35 U.S. a barrel
Gold prices dove $3.20 to $1,130.80 U.S. an ounce.
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