Futures for equities in Canada fell on Monday, tracking global markets, as a spike in U.S. Treasury yields fuelled concerns about the prospect of higher interest rates.
The S&P/TSX Composite ended a wild day by gaining 12.25 points to end the week Friday at 21,084.45. The loss on the week (albeit a shortened one) was 139 points, or 0.65%.
The Canadian dollar fell 0.04 cents to 79.02 cents U.S.
March futures were off 0.1% Monday.
CIBC cut the rating on Information Services Corp. to neutral from outperform.
Canaccord Genuity raised the rating on Teck Resources to buy from hold.
Canaccord Genuity also raised the rating on Turquoise Hill Resources to hold from sell.
Prime Minister Justin Trudeau is pushing ahead with a vaccine mandate for international truckers despite increasing pressure from critics who say it will exacerbate driver shortages and drive up the price of goods imported from the United States.
ON BAYSTREET
The TSX Venture Exchange inched up 0.25 points by the closing bell to 911.46, for a decline on the week of nearly 28 points, or 2.95%.
ON WALLSTREET
Stock futures moved lower early Monday after a rocky start to 2022 for equity markets as interest rates rise.
Futures for the Dow Jones Industrials dipped 116 points, or 0.3%, to 35,991.
Futures for the S&P 500 sank 31.25 points, or 0.7%, to 4,636.50.
Futures for the NASDAQ faltered 189.75 points, or 1.2%, to 15,391.25.
The S&P 500 and NASDAQ are coming off four straight days of losses, while the Dow has retreated in three consecutive sessions.
Financial heavyweights JPMorgan Chase, Citigroup and Wells Fargo release quarterly results Friday.
On Sunday, Goldman Sachs projected the Federal Reserve to hike rates four times in 2022, a signal that Wall Street increasingly expects the central bank to get aggressive in an attempt to curb inflation.
Overseas, markets in Japan were shuttered for holiday, while the Hang Seng in Hong Kong jumped 1.1%.
Oil prices dropped 53 cents to $78.37 U.S. a barrel.
Gold prices caved $5.80 to $1,791.60 U.S. an ounce.
