Canada's main stock index futures were trading modestly lower on Monday, tracking losses in U.S. oil prices as markets tried to gauge Tropical Storm Harvey's impact on oil production and refinery demand.
The S&P/TSX Composite Index lost 20.17 points to close Friday and the week at 15,055.99. September futures hesitated 0.8% on Monday morning.
The Canadian dollar edged up 0.05 cents to 80.24 cents U.S. Monday morning.
U.S. President Donald Trump renewed his threat to scrap NAFTA and ripped on trading partners Canada and Mexico in a tweet early on Sunday, days before the three countries were scheduled to hold a second round of negotiations on rewriting the 23-year-old agreement.
The new chief executive of German department store chain Kaufhof, owned by Canada's Hudson's Bay Co, denied reports that the group was in a dispute with a lender consortium, in an interview by German weekly Welt am Sonntag.
BMO started coverage on Northern Dynasty Minerals with a market perform rating, and a $2.50 target price
ON BAYSTREET
The TSX Venture Exchange moved higher 3.51 points Friday to 769.47.
ON WALLSTREET
U.S. stock index futures pointed to a higher open on Monday, as investors turned their attention to how the oil market was performing after Hurricane Harvey wreaked havoc in the U.S. over the weekend.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 21 points, or 0.1%, to 21,830. Futures for the S&P 500 added 3.5 points, or 0.1%, to 2,446. NASDAQ futures moved up 8.5 points, or 0.2%, to 5,833.50
Catalent Inc., Perceptron Inc., and Standex International are among those business declaring earnings today.
U.S. politics continues to keep investors on their toes. Wall Street will be looking to the White House for any reaction to recent news surrounding the U.S. President and for the administration's response to Hurricane Harvey.
In data news, advance economic indicators are set to be released, followed by the Dallas Fed's Texas Manufacturing Outlook survey.
Comments made at the 2017 Economic Policy Symposium last week in Jackson Hole are expected to be at the back of investors' minds on Monday.
On Friday, European Central Bank President Mario Draghi said that while the global economic recovery appeared as if it was firming up, protectionist policies could pose a "serious risk" to growth.
In Europe, stocks slipped into the red by noon on the continent, Japan’s Nikkei 225 eased back a couple of points and the CSI 300 in Shanghai moved forward 1.2%
Oil prices erased 43 cents to $47.44 U.S. per barrel.
Gold prices advanced $5.10 to $1,303.00 U.S. an ounce.
