Futures for Canada’s main stock index fell on Monday, weighed by lower crude prices and rising tensions between the United States and China.
The TSX surged 122.95 points to close Friday and the week at 17,488.16. On the last five sessions, the index gained 124 points, or 0.7%.
The Canadian dollar eased 0.18 cents Friday to 78.06 cents U.S.
December futures faded 0.3% Monday.
Shipment of COVID-19 vaccines in Canada could start within 24 hours after Health Canada authorities approve the shots, a top official of pharmaceutical company BioNTech told CBC on Sunday, comparing it with the timeline achieved in Britain.
Credit Suisse cut the rating on Capital Power to neutral from outperform
Credit Suisse cut the rating on Inter Pipeline to underperform from neutral.
Canaccord Genuity initiated coverage on Marimaca Copper Corp. with a speculative buy rating.
On the economic slate, Western University’s IVEY School of Business is out this morning (about 10 a.m. EST) with its Purchasing Managers Index reading in November.
ON BAYSTREET
The TSX Venture Exchange subtracted 0.19 points to 769.11. Still, on the week, the index came out ahead nearly 20 points, or 2.66%.
ON WALLSTREET
U.S. stock futures fell on Monday following a record-setting session as Wall Street traders worried about rising coronavirus cases and searched for clues on additional fiscal aid.
Futures for the Dow Jones Industrials Index lost 106 points, or 0.4%, at 30,092.
Futures for the S&P 500 slumped 12.5 points, or 0.3%, at 3,685.50.
Futures for the NASDAQ Composite dropped 4.75 points to 12,521.25.
Dr. Deborah Birx warned on Sunday that the escalating coronavirus cases will be “the worst event that this country will face, not just from a public health side.”
On Thursday, more than 2,800 U.S. deaths from the disease were recorded, a new high, according to data compiled by Johns Hopkins University. More than 14 million COVID-19 cases have been confirmed in the U.S. along with over 282,000 coronavirus-related deaths. Hospitalizations have also reached record levels in the U.S.
Still, the major averages posted intraday and closing all-time highs on Friday, with the Dow popping more than 200 points as investors looked ahead to coronavirus vaccines and possible more fiscal aid. The S&P picked up 0.9% 500 and the NASDAQ advanced 0.7%.
Overseas, in Japan, the Nikkei 225 retreated 0.8% Monday, while in Hong Kong, the Hang Seng index flopped 1.2%.
Oil prices dipped 41 cents to $45.85 U.S. a barrel.
Gold prices handed back six dollars to $1,834 U.S.