Lower Open Foreseen for Monday

Jan 07, 2019 (Baystreet.ca via COMTEX) —

Futures for Canada’s main stock index traded lower on Monday, as lingering worries over global economic growth offset optimism around ongoing Sino-U.S. trade talks.

The S&P/TSX Composite Index scaled 213.87 points, or 1.5%, to close Friday and a short, but turbulent, week at 14,426.62

The Canadian dollar eked up 0.11 cents at 74.91 U.S. early Monday

March futures were down 0.3% Monday.

Suncor Energy said it expects total upstream production to rise by about 13% in the fourth quarter of 2018, driven by higher output from its majority-owned Syncrude oil project in northern Alberta.

RBC cut the rating on MEG Energy to sector perform from outperform

RBC cut the price target on Peyto Exploration & Development to $9.00 from $12.00

On the economic front, Western University’s IVEY School of Business is out (around 10 a.m. ET), with its Purchasing Managers Index for December.

ON BAYSTREET

The TSX Venture Exchange climbed 8.95 points, or 1.6%, Friday to 587.44

ON WALLSTREET

U.S. stock index futures were mostly flat on Monday, with market focus largely attuned to trade talks between Chinese officials and their American counterparts.

Futures for the Dow Jones Industrial Average gained 42 points, or 0.2%, to 23,437

Futures for the S&P 500 acquired 1.5 points, or 0.1%, to 2,533

NASDAQ futures docked three points, or 0.1%, to 6,431.

Commercial Metals Company is among the companies reporting earnings Monday.

On the data front, ISM non-manufacturing figures for December are expected to be released at around 10:00 a.m. ET.

Market participants are closely monitoring global trade developments, as the world’s two largest economies resume talks early this week. According to Reuters, the Chinese foreign ministry said Monday that China and the U.S. have expressed an eagerness to work together. The ministry also added China stands

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