Futures tracking Canada's stock index fell on Monday as prices of precious and base metals as well as oil fell after China tightened COVID curbs following reports of three deaths over the weekend.
The TSX Composite hiked 96.33 points to close Friday and the week at 19,980.91. Over the last five sessions, the index dipped 130 points, or 0.65%.
December futures on the S&P/TSX index were lower 0.4%.
The Canadian dollar deleted 0.3 cents to 74.45 cents U.S.
Manulife Financial has become the first foreign financial firm to receive regulatory approval in China to take full
control of a funds joint venture.
AltaGas said President and CEO Randy Crawford will step down from his roles in the first half of 2023.
ON BAYSTREET
The TSX Venture Exchange swooned 6.69 points, or 1.2%, to 575.88. On the week, the index shed 23.9 points or nearly 4%.
ON WALLSTREET
Stock futures fell Monday ahead of another batch of retail earnings to kick off a shortened week for the Thanksgiving holiday.
Futures for the Dow Jones Industrials skidded 63 points, or 0.2%, to 33,712.
Futures for the S&P 500 backed off 20 points, or 0.5%, to 3,954.
Futures for the NASDAQ Composite faded 87 points, or 0.7%, to 11,621.
Disney bucked the negative trend, however, rising more than 8% after the media giant announced that Bob Iger would return as CEO, effective immediately.
Investors have been reflecting on the strength of a recent bear market rally, which kicked off earlier in the month with the October consumer price index reading and gained some steam with last week’s reading on wholesale prices.
Retail sales increased in October, but at the corporate level Target reported slowing demand and Amazon announced it will lay off 10,000 employees — although Home Depot and Walmart have reported strong results.
This week, a short one due to the Thanksgiving holiday, investors will be busy with another group of retail earnings. Best Buy, Nordstrom, Dick’s Sporting Goods and Dollar Tree are among the companies on deck.
In Japan, the Nikkei 225 poked ahead 0.2% Monday, while in Hong Kong, the Hang Seng Index lost 1.9%.
Oil prices dropped 49 cents to $79.59 U.S. a barrel.
Gold prices stepped back $12.80 to $1,741.60 U.S. an ounce.
