Equities
Global stocks were higher as investors braced for a possible U.S. government shutdown that could delay the release of key economic data.
Wall Street and TSX futures were up.
On Wall Street, markets are watching earnings from Carnival Corp.
The TSX was reacting to surprise news about the surprise exit of Barrick Mining CEO Mark Bristow and federal loan funding for Algoma Steel, which has struggled under U.S. tariffs.
In Canada, stock markets will be open tomorrow, but bond markets will be closed for the National Day for Truth and Reconciliation.
U.S. President Donald Trump was set to meet with top Republican and Democratic Congressional leaders on Monday about possibly extending government funding. Without a deal, a government shutdown would begin Wednesday.
If a government closure continues into October, it may muddy the latest picture of the economy for the Federal Reserve at its Oct. 29 meeting, and leave the central bank relying on private data for its next interest rate decision.
Investors were also bracing for fresh U.S. jobs data expected later this week − but the figures might not be released on schedule if the government shutdown materializes.
“Still, a last-minute deal is more likely than not, and shutdown scares have usually ended up as non-events,” said Ipek Ozkardeskaya, a senior analyst at Swissquote Bank. “Even in the rare cases they caused market disruption, the dips proved attractive to buy − after all, the US government can’t stay shut forever.”
New U.S. tariffs on items including heavy trucks and patented drugs are also set to take effect on Wednesday.
Overseas, the pan-European STOXX 600 was up 0.16 per cent in early afternoon trading. Britain’s FTSE 100 rose 0.39 per cent, Germany’s DAX was down 0.13 and France’s CAC 40 was up 0.21 per cent.
In Asia, Japan’s Nikkei closed 1.89 per cent lower, while Hong Kong’s Hang Seng was up 1.89 per cent.
Commodities
Oil prices slipped as crude started to flow through a pipeline from the semi-autonomous Kurdistan region in northern Iraq to Turkey for the first time in two and a half years.
Reuters reported OPEC+ would likely approve another oil production increase of at least 137,000 barrels per day at its meeting next Sunday.
Brent dropped 1.13 per cent to US$69.34 a barrel, while U.S. crude eased 1.4 per cent to US$64.77 per barrel.
In other commodities, gold reached a fresh all-time high at US$3,819 an ounce, powered by government shutdown concerns.
Currencies and bonds
The Canadian dollar was flat against its U.S. counterpart.
The day range on the loonie was 71.71 US cents to 71.87 US cents in early trading. The Canadian dollar was down about 1.3 per cent against the greenback over the past month.
The U.S. dollar lost ground on investor concerns about the potential government shutdown. The U.S. dollar index, which weighs the greenback against a group of currencies, was down 0.31 per cent to 97.85.
The euro rose 0.34 per cent to US$1.1744. The British pound gained 0.34 per cent to US$1.3447.
In bonds, the yield on the U.S. 10-year note was last down at 4.163 per cent.
Economic news
China industrial profits and current account balance
Euro zone consumer and economic confidence
Germany retail sales
(10 a.m. ET) U.S. pending home sales for August. The Street is forecasting a month-over-month increase of 0.1 per cent.
With Reuters and The Canadian Press