Futures for Canada's main stock index pointed to a lower opening on Monday, as the United States and China appeared to be at a deadlock over trade negotiations.
The S&P/TSX Composite Index lost 24.2 points to finish Friday and the week at 16,297.55
The Canadian dollar gained 0.19 cents to 74.41 cents U.S. early Monday
June futures stumbled 0.8% Monday.
RBC raised the target price on Emera to $59.00 from $56.00
CIBC raised the target price on GDI Integrated Facility Services to $28.00 from $24.00
National Bank of Canada cut the target price Hardwoods Distribution to $15.50
ON BAYSTREET
The TSX Venture Exchange regained 7.37 points Friday to 599.48
ON WALLSTREET
U.S. stock futures pointed to sharp losses on Monday as President Donald Trump ratcheted up pressure against China, intensifying the trade war between the world’s largest economies.
Futures for the Dow Jones Industrial Average plummeted 345 points, or 1.3%, to 25,619
Futures for the S&P 500 faded 42 points, or 1.5%, at 2,845
NASDAQ futures collapsed 150.25 points, or 2%, to 7,460.25
Trade bellwethers Caterpillar and Boeing fell more than 1% each while Apple dropped more than 2.5%.
Trump tweeted on Monday that China will be “hurt very badly if you don’t make a trade deal,” noting that companies would be forced to leave the country without an agreement. Trump also said that the Chinese had a “great deal” almost completed but they “backed out.”
Overseas, the Nikkei 225 backpedaled 0.7% Monday, while in Hong Kong, markets were shuttered for a holiday.
Oil prices gained 69 cents to $62.35 U.S. a barrel.
Gold prices fell $3.40 to $1,284.00 U.S. an ounce.
