Toronto's main stock index looked set to open lower as Italy's credit rating downgrade and mixed Chinese data took the shine off last week's positive payroll data and gains from strong miners.
The S&P/TSX composite index finished Friday higher 9.09 points to end the week at 12,835.61
The Canadian dollar eked up 0.07 cents to 97.30 cents U.S. early Monday.
Italy's economy contracted by 0.9% in the fourth quarter of last year, in line with a preliminary estimate, and gross domestic product was down a revised 2.8% year-on-year, data showed.
Coal miner Walter Energy Inc, in the midst of a spat with a British hedge fund that is looking to replace half of its board, said it could further cut production at underperforming mines and explore the sale of non-core assets.
ON BAYSTREET
The TSX Venture Exchange moved up 1.62 points Friday to 1,117.85
ON WALLSTREET
U.S. stock futures were little changed Monday, perhaps signaling that Wall Street is finally ready to take a break from last week's record-breaking rally.
Futures for the Dow Industrials notched up one point to 14,314. Futures for the S&P 500 dropped 1.2 points to 1,543.30, and futures for the NASDAQ dropped 4.5 points to 2,793.25.
This week's main focus will be on retail sales, as investors look for further signs of economic strength.
The numbers, due out Wednesday, will be even more closely watched than normal as investors are keen to see whether the increased payroll tax, delayed tax refunds and higher gas prices have caused consumers to pull back.
Wal-Mart warned last month that February sales had been softer than expected.
February sales are expected to have risen 0.5%, according to economists
Stocks wrapped one of the best weeks of the year Friday, with the Dow closing at a record high for the fourth straight day. All three indexes were up more than 2% for the week, and the S&P is less than 1% from hitting its all-time high.
On the corporate front, shares of Dick's Sporting Goods fell more than 5% after the retailer reported earnings and sales that fell short of forecasts. The company also said it expected a sharp slowdown in same-store sales for the first quarter.
Renren got a big boost after easily beating revenue forecasts. Shares of the Chinese social media company spiked nearly 5% in premarket trading.
European markets were mostly lower in morning trading, while Asian markets ended mixed.
Oil prices dropped 20 cents to $91.75 U.S. a barrel
Gold prices dipped $1.10 an ounce to $1,575.80 U.S.
