Futures for Canada’s main stock index eased on Monday, after hitting record highs last week, as oil prices slipped on concerns about demand.
The TSX gained 24.2 points to close the week at 19,346.12. The index leaped 361 points, or 1.9% on the week.
The Canadian dollar gained 0.16 cents Monday at 80.05 cents U.S.
June futures were down 0.1% Monday.
RBC starts coverage on Boat Rocker Media Inc with an outperform rating and a price target of $12
RBC also starts coverage on Dialogue Health Technologies with a sector perform rating, and a price target of$18
RBC raised the price target on MTY Food Group to $52.00 from $47.00
ON BAYSTREET
The TSX Venture Exchange added 5.64 points Friday to 944.46, though the index proved negative on the week 16.4 points, or 1.7%.
ON WALLSTREET
U.S. stock index futures were lower on Monday, after the S&P 500 and Dow Jones Industrial Average closed at record highs on Friday.
Futures for the 30-stock index doffed 82 points, or 0.2%, to 33,999.
Futures for the S&P 500 lost 11.25 points, or 0.3%, to 4,165.
Futures for the NASDAQ Composite index fell 46.5 points, or 0.3%, to 13,983.
Bank shares were lower in early trading Monday as investors continued to take profits following big earnings from the group last week. Bank of America, Wells Fargo and Citigroup were all lower in pre-market trading.
Coca-Cola shares rose more than 1% in premarket trading after the consumer giant reported better-than-expected earnings and revenue. The company also said demand in March has returned to pre-pandemic levels.
Stocks are coming off a week of gains as earnings topped estimates and strong economic data lifted the major averages. The S&P and Dow advanced 1.38% and 1.18% last week respectively for their fourth straight week of gains, while the Nasdaq Composite posted its third positive week in a row.
Despite stocks trading around record levels, UBS on Friday lifted its forecast for the year. The firm now envisions the S&P 500 ending 2021 at 4,400, which is roughly 5% above where the benchmark index closed on Friday.
Bitcoin was slammed over the weekend after hitting an all-time high of $64,841 Wednesday morning, according to data from Coin Metrics. At one point, it was down 19% from that record over the weekend before recovering.
The cryptocurrency was last at $56,794 on Monday. Tesla, a holder of bitcoin, was down 1.5% in premarket trading Monday. Coinbase, which just made its public debut last week, was down by 2% in early trading.
On the coronavirus front, White House chief medical advisor Dr. Anthony Fauci said he expects the U.S. will resume administration of the Johnson & Johnson vaccine.
The Food and Drug Administration asked states last week to temporarily halt using the single dose vaccine “out of an abundance of caution” after six women developed a rare blood-clotting disorder.
Overseas, in Japan, the Nikkei 225 took on two points Monday, while in Hong Kong, the Hang Seng index galloped 0.5%.
Oil prices dipped 15 cents to $62.98 U.S. a barrel.
Gold prices gained 90 cents to $1,781.10 U.S.