Futures for stocks in Canada’s largest centre dipped lower on Monday as copper prices slid, while investors were cautious ahead of key domestic economic data and the U.S. Federal Reserve's monetary policy decision later this week.
The TSX Composite eked up 23.74 points to wrap up Friday’s session at 21,125.28. On the week, the index popped 218 points, or 1.05%.
March futures docked 0.1% Monday.
The Canadian dollar moved 0.1 cents higher to 74.44 cents U.S.
In corporate news, Celestica is set to report its fourth-quarter earnings on Monday after the bell.
CIBC downgraded lender goeasy's stock to "neutral" from "outperformer".
ON BAYSTREET
The TSX Venture Exchange ended with a gain of 0.69 points Friday at 550.86. Over the week, the index lost 1.47 points, or 0.27%.
ON WALLSTREET
U.S. stock futures were little changed Monday as Wall Street looked toward several mega-cap tech earnings reports and the Federal Reserve’s rate policy decision.
Futures for the Dow Jones Industrials index sank 23 points, or 0.1%, to 38,235.
Futures for the S&P 500 eked higher one point at 4,917.25.
Futures for the NASDAQ acquired 28.25 points, or 0.2%, to 17,555.25.
This week marks the busiest slate of the earnings season, with 19% of the S&P 500 reporting earnings. Mega-cap tech names Microsoft, Apple, Meta, Amazon and Alphabet — part of the core group of big tech companies that have led this year’s rally — will be posting their results.
Investors will also keep an eye on several Dow components reporting their quarterly earnings, including Boeing and Merck.
Meanwhile, the Federal Open Market Committee will begin its two-day policy meeting on Tuesday. Investors are nearly certain the central bank will keep rates steady. Traders in the fed funds futures market assigned an almost 97% probability the Fed will not cut rates at the upcoming meeting, according to the CME Group.
In Japan, the Nikkei 225 jumped 0.8% Monday, while in Hong Kong, the Hang Seng Index also gained 0.8%.
Oil prices slid 23 cents to $77.78 U.S. a barrel.
Gold prices fell $11.00 to $2,028.30 U.S. an ounce.
