Futures Promise Downward Session

Strike at B.C. Mine

Futures for Canada's main stock index fell on Monday, as crude prices declined $1 on concerns over fuel demand from the spread of coronavirus variants and changes to import rules in China.

The TSX Composite index jumped 94.83 points to greet close Friday’s session at 20,192.35. On the week, the gain was 203 points, or just over 1%.

The Canadian dollar acquired 0.05 cents to 79.62 cents U.S.

September futures retreated 0.4% Monday.

Unifor said on Sunday about 900 workers had started strike action at global miner Rio Tinto's operations in British Columbia.

ON BAYSTREET

The TSX Venture Exchange eked up 1.44 points Thursday to 909.96.

ON WALLSTREET

Stock futures slipped Monday morning ahead of a busy week of earnings reports from technology’s heaviest hitters.

Futures for the Dow Jones Industrials sank 95 points, or 0.3%, to 34,856.

Futures for the S&P 500 dropped seven points, or 0.2%, to 4,396.

Futures for the NASDAQ Composite Index fell 8.5 points, or 0.1%, to 15,089.50.

One of the busiest weeks of earnings reports is on deck in the week ahead, with Tesla kicking it off after the closing bell. Last week, CEO Elon Musk said the automaker would likely start accepting bitcoin for vehicle purchases again.

Big tech giants Apple, Alphabet and Microsoft are all set to report on Tuesday, and Google, Facebook, and Amazon will also report later in the week.

Investors will be watching the Fed’s two-day policy meeting, beginning Tuesday. The Federal Open Market Committee and the Board of Governors are expected to issue a statement on the stance of monetary policy Wednesday. On Thursday the Commerce Department will report second-quarter Gross Domestic Product data.

Overseas, in Japan, the Nikkei 225 index returned to trading after a long weekend with a jump of 1%, while in Hong Kong, the Hang Seng index stumbled 4.1 %,

Oil prices slipped 41 cents to $71.66 U.S. a barrel.

Gold prices gained $6.30 to $1,808.10 U.S. a pound.