The Toronto stock market looked set for a negative session Monday amid lower commodity prices and little in the way of market-moving economic or corporate news.
The S&P/TSX Composite Index leaped 78.98 points to end Friday at 12,764.22.
The Canadian dollar fell 0.07 cents to 100.26 cents U.S. early Monday.
Turquoise Hill Resources will be in focus after Mongolia’s president said his country should have more control of the Oyu Tolgoi copper and gold project. Mining giant Rio Tinto has a 66% stake in Oyu Tolgoi through its 51% interest in Vancouver-based Turquoise Hill, formerly known as Ivanhoe Mines Ltd.
The development is the world’s biggest copper mine under construction. Mongolia has a 34% stake in the project.
ON BAYSTREET
The TSX Venture Exchange improved 6.59 points Friday to 1,228.30
ON WALLSTREET
With the Dow sitting above the 14,000 mark, investors head into the week awaiting data on factory orders and more corporate results.
Futures for the Dow Industrials fell 76 points, or 0.6%, to 13,854. Futures for the S&P 500 doffed 7.7 points, or 0.5%, to 1,499, and futures for the NASDAQ sagged 16.50 points, or 0.6%, to 2,740
Firms including Royal Caribbean Cruises and media company Gannett will report quarterly results before the bell. Yum! Brands will report after the close. Disney y and BP will release quarterly results on Tuesday.
Shares of Dell were slightly lower in pre-market trading on talks the company could go private early this week. Microsoft is reportedly poised to assist in financing the deal.
Facebook shares were also lower in early morning trading, as the social networking site marked the ninth anniversary since its inception.
European markets were lower in morning trading. Asian markets ended mixed. The Shanghai Composite added 0.4% and Japan's Nikkei advanced 0.6%, while the Hang Seng declined 0.2%.
The Census Bureau will release data on factory orders for December at 10 a.m. ET.
Oil prices gave back $1.27 to $96.50 U.S. a barrel
Gold prices shed six dollars an ounce to $1,664.60 U.S.
