Futures for Canada’s main stock fell on Monday as oil prices slipped after comments from President Donald Trump tempered expectations around a U.S.-China trade deal.
The TSX Composite Index heightened 71.67 points to close Friday and the week at 16,877.42
On the week, the jump was 283 points, or 1.71%,
The Canadian dollar was unchanged at 75.60 cents U.S. early Monday
December futures faded 0.2% early Monday.
TC Energy’s Keystone oil pipeline has returned to service following the approval of their repair and restart plan by the U.S. Pipeline And Hazardous Materials Safety Administration on Sunday.
CIBC raised the target price on Autocanada to $12.00 from $11.00
RBC raised the target price to $43.00 from $40.00
Scotiabank cut the rating on Enerflex Ltd. to sector perform from outperform.
ON BAYSTREET
The TSX Venture Exchange gained 3.17 points at 536.97, but lost 4.5 points, or 0.84%, on the week.
ON WALLSTREET
U.S. stock index futures were lower Monday amid lingering U.S.-China trade worries while protests in Hong Kong escalate.
Futures for the Dow Jones Industrials tumbled 118 points, or 0.4%, early Monday to 27,513.
Futures for the S&P 500 faltered 12.25 points, or 0.4%, at 3,078.25.
The NASDAQ Composite slipped 36.5 points, or 0.4%, to 8,220.75.
Nine Energy Services is among the stocks declaring earnings today.
President Donald Trump said Friday he had not agreed to roll back tariffs on China. Those comments came after the Chinese commerce ministry said that both sides had agreed to cancel existing tariffs in phases. A U.S. official also reportedly said both sides agreed to roll back the tariffs in tranches.
The stock market’s recent move to record highs comes in part because of improving sentiment around U.S.-China trade talks. With his comments on Friday, Trump dampened trade expectations in the market.
Overseas, in Japan, the Nikkei 225 gained 0.3% Monday, while in Hong Kong, the Hang Seng Index faded 2.6%.
Oil prices dropped 62 cents to $56.62 U.S. a barrel.
Gold prices gained $1.40 to $1,464.30 U.S. an ounce.
