Futures for Canada's main stock index were flat on Monday amid mounting speculation that the U.S. Federal Reserve will adopt a dovish tone at its two-day policy meeting from March 19.
The S&P/TSX Composite Index gained 52.37 points to conclude Friday and the week at 16,139.92
The Canadian dollar dipped 0.10 cents to 75.05 cents U.S. early Monday
June futures were down 0.01% Monday.
The Fed is likely to leave its interest rate unchanged in a range of 2.25% to 2.5% and stick to the pledge of a "patient" approach to monetary policy.
With a federal election looming and Prime Minister Justin Trudeau's government facing its worst political crisis in four years, the federal Liberals are expected to table a goody-filled budget later this week in bid to get back on course with voters.
Air Canada and United Airlines on Friday became the first major carriers in North America to warn of negative impacts on business due to the grounding of Boeing's 737 MAX planes.
National Bank of Canada cut the target price on AutoCanada to $10.00 from $12.50
CIBC cut the target price on North West Co to $30.00 from $31.00
Canaccord Genuity initiated coverage on Terago Inc. with a "buy" rating and $12.50 price target
On the economic front, Statistics Canada said foreign investors bought up $28.4 billion of Canadian securities in January, following a significant divestment in December. Meanwhile, Canadian investors reduced their holdings of foreign securities by $8.8 billion, led by sales of U.S. shares.
ON BAYSTREET
The TSX Venture Exchange gained 4.7 points to conclude the week at 627.77
ON WALLSTREET
U.S. stock index futures were mixed on Monday morning, with the Dow Jones Industrial Average under renewed pressure by a drop in shares of Boeing.
Futures for the Dow Jones Industrial Average shed 41 points, or 0.2%, at 25,858
Futures for the S&P 500 eked up 2.75 points, or 0.1%, at 2,832.56
NASDAQ futures forged ahead 4.5 points, or 0.1%, to 7,347.75
Lumber Liquidators Holdings and HealthEquity are among the firms reporting earnings Monday.
Boeing shares dropped 3% in the pre-market after the U.S. Department of Transportation launched an investigation into whether there were lapses in the Federal Aviation Administration's approval of Boeing planes involved in two recent fatal crashes, The Wall Street Journal reported on Sunday.
Market participants are likely to monitor a fresh round of U.S. housing data. The National Association of Home Builders will release its monthly housing market survey at 10 a.m. ET.
As indicated above, investors are also awaiting the start of a two-day Federal Reserve policy meeting this week.
There's also a strong focus on a potential trade deal between the United States and China. Chinese Vice Premier Liu He spoke via telephone with U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer recently after a report in the South China Morning Post suggested that the two sides have made further progress.
Overseas, in Japan, the Nikkei 225 gained 0.6% Monday, while in Hong Kong, the Hang Seng Index captured 1.4%
Oil prices inched up 10 cents to $58.62 U.S. a barrel.
Gold prices acquired two dollars to $1,304.90 U.S. an ounce.
