Stock futures pointed to a lower opening for Indexes in Canada on Monday, as oil prices slipped on concerns over China's economic growth and Russia's oil output.
The S&P/TSX Composite shot higher 71.85 points to close Friday and the week at 15,608.50. Futures moved downward 0.1%
The Canadian dollar crept back 0.04 cents to 74.69 cents U.S. early Monday.
Hydro One is reportedly in talks to buy municipal electricity distributor Toronto Hydro for about $3 billion as the city of Toronto explores options to finance various infrastructure projects
Hudson's Bay Co., owner of the Lord & Taylor and Saks Fifth Avenue retail chains, has yet to line up equity financing for a bid for Macy's Inc, over a month after approaching its U.S. peer.
National Bank cut the target price on Alimentation Couche Tard to $74.00 from $77.00
KBW raised the target price on Toronto-Dominion Bank to $68.00 from $66.00
National Bank raised the target price on Transcontinental Inc to $25.00 from $23.00
ON BAYSTREET
The TSX Venture Exchange leaped 8.59 points, or 1.1%, Friday to 818.46
ON WALLSTREET
U.S. stock index futures pointed to a lower open on Monday as traders focused on fresh economic data ahead of a probable interest rate hike in the U.S. this month.
Ahead of the opening bell, futures for the Dow Jones Industrials receded 36 points, or 0.2%, to 20,945. Futures for the S&P 500 faded 6.75 points, or 0.3%, to 2,374.50. NASDAQ futures dropped 12.5 points, or 0.2%, at 5,359.50.
Thor Industries, Analogic, Ascena Retail and Korn/Ferry are all due to report earnings after the market close.
On matters macroeconomic, Monday will see U.S. factory orders for January released at 10 a.m. ET.
Market expectations for a March rate hike have leaped to 81% according to those who track such matters, on the back of hawkish rhetoric and solid economic data. The Federal Open Market Committee meeting is scheduled for March 14-15.
In Europe, stocks were predominantly lower late Monday morning. In Asia, the CSI 300 Composite in China closed 0.5% higher, while the Nikkei in Japan closed 0.5% lower.
Oil prices fell 22 cents to $53.11 U.S. per barrel.
Gold prices advanced $6.80 to $1,233.30 U.S. an ounce.
