Canada's main stock index opened flat on Monday, as losses in industrials and materials stocks offset gains in the energy sector.
The S&P/TSX Composite Index faded 3.2 points to begin Monday and the week at 16,432.26
The Canadian dollar vaulted 0.64 cents at 76.02 cents U.S.
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.
Thomson shares acquired six cents to $55.64.
Barclays raised the price target on Loblaw Companies to $75.00 from $71.00. Loblaw shares fell a mere three cents to $69.29.
CIBC raised the price target on Solium Capital to $13.50 from $11.50. Soliu, shares inched forward eight cents to $12.68.
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 regained 1.03 points to 713.36.
Eight of the 12 TSX subgroups were lower, primarily gold, down 0.7%, materials, falling 0.6%, and industrials, off 0.5%.
The four gainers were led higher by health-care, surging 1.3%, energy, in the green 0.3%, and financials, richer by 0.2%.
ON WALLSTREET
Stocks slipped on Monday as investors awaited the release of quarterly results from some of the largest technology companies as well as key economic data.
The Dow Jones Industrials dipped 22.31 points to 25,035.81, with 3M as the biggest laggard on the index.
The S&P 500 retreated 1.95 points to 2,799.84, as staples, industrials and tech declined.
The NASDAQ fell back 17.39 points to 7,802.29
Google-parent Alphabet is set to report earnings after the bell on Monday, while Facebook and Amazon are scheduled to release their results later this week. Technology shares have been the best performers of 2018, rising 15.4% through Friday’s close.
Alphabet shares declined 0.2%, while Facebook rose 0.6%, and Amazon rose 0.2%.
So far, more than 17% of S&P 500 companies have reported earnings for the previous quarter, with 82% of those companies topping analyst expectations. Wall Street has high hopes for this earnings season, with analysts expecting year-over-year growth of 20%.
Hasbro reported better-than-expected earnings Monday before the bell, sending its shares higher by more than 12%. Halliburton posted an in-line quarterly profit, but its stock fell more than 1%.
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.
Shares of Fiat Chrysler fell more than 3% after Sergio Marchionne stepped down from his post as CEO due to health reasons. Mike Manley, who runs the company’s Jeep division, will take over for Marchionne.
Tesla’s stock dropped 3.2% after the Wall Street Journal reported the company is asking some suppliers to refund part of previous payments.
Prices for the benchmark for the 10-year U.S. Treasury dropped, raising yields to 2.92% from Friday’s 2.9%. Treasury prices and yields move in opposite directions.
Oil prices picked up 87 cents to $69.13 U.S. a barrel.
Gold prices dawdled $6.20 at $1,224.90 U.S. an ounce.
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