Stock futures pointed to a lower opening for Canada's main stock index on Monday, as trade fears escalated following President Donald Trump's latest threats of further U.S. tariffs on China.
The S&P/TSX Composite Index tumbled 107.55 points to end Friday and the week at 16,435.46
The Canadian dollar gained 0.76 cents at 76.14 cents U.S. early Monday
September futures faded 0.02% Monday
U.S. private equity firm Blackstone Group has secured European Union antitrust approval to acquire a majority stake in Thomson Reuters' Financial and Risk unit.
Barclays raised the price target on Loblaw Companies to $75.00 from $71.00
CIBC raised the price target on Solium Capital to $13.50 from $11.50
On the economic area Statistics Canada reported wholesale trade rose 1.2% to a record $63.7 billion in May. Sales were up in four of seven sub-sectors, representing approximately 50% of total wholesale sales.
ON BAYSTREET
The TSX Venture Exchange skidded 0.84 points Friday to 712.33.
ON WALLSTREET
U.S. stock index futures pulled back ahead of Monday’s open, as worries about global trade continued to simmer.
Futures for the Dow Jones Industrials inched up three points to 25,033.
S&P 500 futures were unchanged at 2,800.75, while futures for the NASDAQ composite dipped 18 points, or 0.2%, to 7,342
Trade fears have kept stock gains in check recently. Since June, the S&P 500 has traded in a 4.6% range through Friday's close.
Meanwhile, earnings season continued on Wall Street, with Halliburton and Hasbro among the companies that reported before the bell.
Alphabet, TD Ameritrade and Whirlpool’s financial results are scheduled for release after the close.
At a G-20 meeting in Argentina over the weekend, finance leaders from the world’s biggest economies called for more dialogue to help prevent geopolitical and trade tensions from negatively impacting global economic growth.
Overseas, in Japan, the Nikkei 225 dwindled 1.3%, while in Hong Kong, the Hang Seng index nicked up 0.1%.
Oil prices gained 60 cents to $68.86 U.S. a barrel.
Gold prices took on 60 cents to $1,231.70 U.S. an ounce.
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