Futures for Canada’s main stock index were muted on Monday, as rise in gold prices was countered by a fall in crude prices, ahead of a central bank meeting this week.
The TSX Composite Index finished higher Friday by 39.46 points to 21,874.35. On the week, however, the index fell 78 points, or 0.36%.
June futures were flat on Monday.
The Canadian dollar slumped 0.14 cents to 79.36 cents U.S.
After a strong employment report last week, the Bank of Canada is widely expected to raise its policy rate by a rare half-point to 1% when it meets on Wednesday to fight inflation.
Shopify announced a 10-for-1 stock split of the company’s class A and class B shares, joining a growing list of companies that have split their shares to make them more attractive for investors.
RBC raised the rating on Cameco Corp. to outperform from sector perform
CIBC cut the rating on Canadian Western Bank to neutral from outperform.
CIBC raised the rating on National Bank to outperformer from neutral
ON BAYSTREET
The TSX Venture Exchange added 1.88 points to 888.21. Over the last five sessions, the index forfeited nine points, or 1.03%.
ON WALLSTREET
Stock futures were mostly lower early Monday morning as Wall Street looks to shake off a losing week.
Futures for the Dow Jones Industrials ducked back 91 points, or 0.3%, to 34,522.
Futures for the S&P 500 dropped 26.75 points, or 0.6%, to 4,456.75.
Futures for the NASDAQ Composite Index swooned 152.5 points, or 1.1%, to 14,174.
Later this week, the first-quarter earnings season will hit its stride, with JPMorgan Chase and Delta set to report results on Wednesday morning.
The fight against inflation is likely to be a market driver this week. Investors will get a look at fresh data, with the consumer price index for March due out on Tuesday and the producer price index following on Wednesday.
Cleveland Federal Reserve President Loretta Mester told the media on Sunday that she still believes the Fed can get inflation under control.
In Asia, the Nikkei 225 in Japan docked 0.6% Friday, while in Hong Kong, the Hang Seng fell 3%.
Oil prices tumbled $4.46 to $93.80 U.S. a barrel.
Gold prices $16.10 to $1,961.70 U.S.