Futures for stocks in Canada’s largest market fell on Monday, a day after closing at a record high, as both crude and gold prices traded within a tight range.
The TSX Composite index recovered 15.14 points, to conclude Friday’s session at 20,230.26. The gain on the week was 233.18, or 1.17%.
The Canadian dollar lost 0.16 cents to 81.19 cents U.S.
September futures slumped 0.1% Monday.
Thursday, markets in Canada are closed in honour of Canada Day.
Brookfield Business Partners LP announced on Sunday an agreement to acquire U.K.-based Modulaire Group backed by private equity firm
TDR capital, for $5 billion.
TD Securities raised the target price on Granite REIT to $94.00 from $92.00
TD Securities raised the target price on Mainstreet Equity to $105.00 from $90.00
TD Securities starts coverage on Richelieu Hardware with a "hold" rating.
ON BAYSTREET
The TSX Venture Exchange weakened 2.08 points Friday to 948.51. The index lost 31 points, or 3.18%.
ON WALLSTREET
Futures contracts tied to the major U.S. stock indexes were little changed Monday after the S&P 500 notched its best week since February, as well as a new record, on Friday.
Futures for the Dow Jones Industrials sank 14 points, or 0.3 %, to 34,319.
Futures for the S&P 500 deleted 0.1 points, or 0.1%, to 4,275.25.
The NASDAQ jumped 46.75 points, or 0.3%, to 14,385.75.
A massive, bipartisan infrastructure deal appeared revitalized as of Sunday evening after President Joe Biden clarified on Saturday that he doesn’t plan to veto the legislation if it comes without a separate reconciliation bill favored by Democrats. Republican senators then said on Sunday that the deal can move forward.
The president, flanked by a bipartisan group of senators, declared on Thursday that the group had reached a multibillion-dollar deal to improve the nation’s roads, bridges, waterways and broadband after weeks of negotiation. Democrats have been pushing for a second bill that would include funding for issues like climate change, child care, health care and education.
Caterpillar shares were higher in pre-market trading, set to add to their gains last week.
The next major piece of economic data is the June jobs report, which the U.S. Labor Department is scheduled to publish on Friday.
Economists are expecting that non-farm payrolls increased by 683,000 in June. While such a robust reading would top the 559,000 in May, it would still be below the one million some had hoped a recovering U.S. economy could post as it emerged from the COVID-19 crisis.
Investors will also pore over the June report for any signs of wage inflation as employers struggle to find workers to fill job openings and pandemic-era jobless benefits taper off in some states.
Overseas, in Japan, the Nikkei 225 retreated 0.1% Monday, while in Hong Kong, the Hang Seng index also lost 0.1%.
Oil prices moved downward nine cents to $73.96 U.S. a barrel.
Gold prices added 30 cents to $1,777.50 U.S.
