Equities
Global stocks were mixed as the tech rout rippled through Asia while signs of an easing of tensions between Iran and Israel supported European stocks.
Wall Street futures rebounded after major North American markets ended sharply lower Friday. S&P futures rose 0.6 per cent, while Dow futures ticked up 0.2 per cent and Nasdaq futures climbed 1.2 per cent.
TSX futures advanced 0.3 per cent.
On Wall Street, markets are watching earnings from Campbell’s Co.
“The market has gone a long way without a correction,” said Lars Skovgaard, senior investment strategist at Danske Bank.
“The big surprise is not that we had a selloff, but that we didn’t have it before.”
Overseas, the pan-European STOXX 600 was flat in morning trading. Britain’s FTSE 100 gained 0.04 per cent, Germany’s DAX lost 0.29 per cent and France’s CAC 40 gave back 0.10 per cent.
In Asia, Japan’s Nikkei closed 3.85 per cent lower, while Hong Kong’s Hang Seng finished 1.22 per cent lower.
Commodities
Oil prices pared gains after rising more than 5 per cent earlier in the session, after Iran’s military said that its first wave of attacks on Israel since a ceasefire in April was over. However, Iran warned of harsher attacks if Israel continues strikes on Lebanon.
Brent crude futures were up 1.2 per cent to US$94.19 a barrel, while U.S. West Texas Intermediate crude futures were up 0.9 per cent, at US$91.33.
In other commodities, spot gold was down 0.4 per cent at US$4,313.99 per ounce. U.S. gold futures for August delivery were down 0.6 per cent at US$4,340.90.
Currencies and bonds
The Canadian dollar weakened against its U.S. counterpart.
The day range on the loonie was 71.65 US cents to 71.77 US cents in early trading. The Canadian dollar was down about 1.92 per cent against the greenback over the past month.
The U.S. dollar index, which weighs the greenback against a group of currencies, rose 0.03 per cent to 100.085. The dollar was pegged at $1.3945.
The euro declined 0.04 per cent to US$1.1517. The British pound dropped 0.13 per cent to US$1.3329.
In bonds, the yield on the U.S. 10-year note was last up at 4.565 per cent.
Economic news
China’s foreign reserves, aggregate yuan financing, new yuan loans and trade surplus
Japan’s real GDP and bank lending
Germany’s factory orders
11 a.m. ET: U.S. New York Fed one-year inflation expectations
With Reuters and The Canadian Press