Canada's resource heavy index looked set to open lower on Monday, dragged down by commodities, as fears grew that Greece would balk at painful terms of a bailout deal needed to avoid a sovereign debt default.
Yet another deadline for Greece to respond to proposed terms for a new European Union/IMF bailout slipped, and patience in Brussels has worn thin over the drawn-out negotiations.
The Canadian dollar eased 0.37 cents to 100.15 cents U.S.
Among Canadian stocks to watch this morning, Yukon-Nevada Gold Corp. said it restarted gold production at its Jerritt Canyon mill in Nevada
In the first day of trading since the Dow Jones industrial average hit its highest level since May 2008, American stocks on Monday were set to decline on concerns about Greece.
U.S. index futures were down with about two hours before markets open, suggesting that stocks will fall at the start of trading. Futures for the Dow Jones industrial average were down 33 points or 0.3% to 12,760. Futures for the broader S&P 500 were down 5.3 points or 0.4% to 1,333.80. Futures for the Nasdaq dipped 10 points or 0.4% to 2,513.
Without any major economic news expected on Monday stateside, investors can dwell on the situation in Europe, where the sovereign-debt crisis still has the ability to send worries through the stock market.
There, Greek leaders were still trying to hammer out austerity measures needed to receive the next round of bailout funds from the euro-zone and stave off outright default on its current debt obligations.
However, ongoing political disagreement over private-sector wage cuts and other issues has delayed any deal -- already past initial deadlines -- weighing on stocks.
The U.K.'s FTSE 100 was down 0.3% and Germany's DAX index was down 0.5% in afternoon trading.
In Asia, though, Japan's Nikkei 225 rose 1.1% in overnight trading.
Commodities took a step back. Crude oil fell 76 cents to $97.08 U.S. a barrel. Gold fell $23 to $1,717.30 U.S. an ounce.
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