Futures for Canada's main stock index were muted on Monday, with weakness in crude prices offset by gains in gold, while investors remained on the sidelines ahead of major U.S. earnings.
The TSX gained 62.46 points to end Friday’s session at 20,693.15. On the week, the index gained 113 points, or 0.55%.
June futures on the S&P/TSX index were flat on Monday morning.
The Canadian dollar dipped 0.03 cents to 73.83 cents U.S.
In company news, the Alberta Energy Regulator has started an investigation into the death of 32 waterfowl at a Suncor Energy tailings pond on its Base Mine Site.
Lundin Mining, which recently made Chile's first big copper acquisition in nearly a decade, is setting targets for its new Caserones mine and waiting to expand its existing Candelaria mine.
TC Energy said a 14,000-barrel oil spill from its Keystone pipeline in rural Kansas in December was primarily due to a progressive fatigue crack, which originated during the construction of the pipeline.
On the economic calendar, Statistics Canada reported new housing prices were flat in March.
ON BAYSTREET
The TSX Venture Exchange eased back 1.29 points to 614.20, making for a weekly fall of 21.85 points, or 3.44%.
ON WALLSTREET
Stock futures fell on Monday as investors awaited a slew of corporate earnings from big tech companies, as well as fresh economic data releases.
Futures for the Dow Jones Industrials gave up 40 points, or 0.1%, at 33,910.
Futures for the S&P 500 dropped four points, or 0.1%, to 4,152.75.
Futures for the NASDAQ Composite fell eight points, or 0.1%, to 13,082.50.
The major indexes all fell last week as the earnings season began to ramp up, with several prominent banking names posting their quarterly results for the first time since the bank failures in March. The Dow dropped 0.2% and ended a four-week winning streak. The NASDAQ declined 0.4%, while the S&P edged down 0.1%.
Roughly 76% of S&P 500 companies that have reported earnings through Friday beat analyst earnings estimates, according to FactSet data. However, first-quarter earnings for S&P 500 companies are estimated to decline an overall 5.2%, per Refinitiv.
Wall Street is looking ahead toward mega-cap tech earnings results this week in what will mark the halfway point of earnings season. Alphabet, Microsoft, Amazon and Meta are among the high-interest names scheduled to announce their results for the first quarter.
Coca-Cola and Credit Suisse are set to report earnings Monday before the bell. Whirlpool and First Republic Bank will be announcing their results after Monday’s trading session. Traders will also watch out for the Dallas Fed’s Manufacturing survey results to gauge the state of the state’s factory activity.
In Japan, the Nikkei 225 eked up 0.1% Monday, while in Hong Kong, the Hang Seng sank 0.6%.
Oil prices dipped 28 cents to $77.59 U.S. a barrel.
Gold prices surged $4.60 to $1,995.10 U.S. an ounce.
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