Futures for Canada's main stock index fell on Monday as lower prices of most commodities are expected to weigh on the index, while investors braced for the Bank of Canada's monetary policy meeting, due later in the week.
The TSX Composite nose-dived 233.17 points, or 1.2%, to close Friday at 19,115.64. On the week, the index lost nearly 350 points, or 1.78%.
December futures were down 0.4% early Monday.
The Canadian dollar slid 0.07 cents to 72.89 cents U.S.
ON BAYSTREET
The TSX Venture Exchange faded 3.08 points to 520.74. On the week, the index handed over 8.4 points, or 1.59%.
ON WALLSTREET
Stock futures fell Monday as Treasury yields rose and traders looked ahead to the release of corporate earnings from tech industry giants.
Futures for the Dow Jones Industrials dived 184 points, or 0.6%, to 33,074.
Futures for the S&P 500 fell 21 points, or 0.5%, at 4,227.50.
Futures for the NASDAQ retreated 77.5 points, or 0.5%, to 14,586.50.
Earnings season ramps up this week, with a slew of big tech titans set to report. Investors will anticipate results from Alphabet, Amazon, Meta and Microsoft to provide key information for the stock market.
Interest rates have soared in recent weeks, with the 10-year’s break above 5% on Thursday marking the first such occurrence for the benchmark since July of 2007. Comments from Federal Reserve chair Jerome Powell that monetary policy could tighten further seemingly stoked investor concern and underpinned the rise in Treasury yields.
In Japan, the Nikkei 225 capsized 0.8% Monday, while in Hong Kong, markets were shuttered for a holiday.
Oil prices slumped 53 cents to $87.55 U.S. a barrel.
Gold prices lost five dollars to $1,989.40 U.S. an ounce.
