Equities
Global markets were mixed in cautious trading amid some optimism about a rebound in U.S. chip stocks and other beaten-down assets after a volatile week.
Wall Street futures were in the red after major North American markets closed up on Friday.
TSX futures pointed higher as commodity prices extended gains.
In Canada, investors are getting results from PrairieSky Royalty Ltd. and Silvercorp Metals Inc.
On Wall Street, markets are watching earnings from Apollo Global Management Inc., Becton Dickinson and Co. and Cleveland-Cliffs Inc.
“Big gains – like the ones we saw last Friday – can be just as unsettling as big losses," Ipek Ozkardeskaya, senior analyst at Swissquote, wrote in a note. “Both signal markets navigating agitated waters, where moves may not prove sustainable.”
Overseas, the pan-European STOXX 600 was flat. Britain’s FTSE 100 slipped 0.45 per cent, Germany’s DAX gained 0.42 per cent and France’s CAC 40 edged up 0.02 per cent.
In Asia, the Nikkei closed 3.89 per cent higher after Japan’s ruling party secured a majority in a landslide snap election win. Hong Kong’s Hang Seng rose 1.76 per cent.
Commodities
Oil prices eased after the U.S. and Iran pledged to continue indirect talks, calming oil supply fears, but India stepping away from Russian oil purchases is giving prices a floor.
Brent crude futures fell 0.35 per cent to US$67.81 a barrel, while West Texas Intermediate (WTI) crude declined 0.42 per cent to US$63.28.
“The Iranian risk premium cannot be fully defused as long as U.S. warships are located where they are,” said SEB analyst Bjarne Schieldrop.
In other commodities, spot gold rose 1 per cent to US$5,008.51 an ounce. U.S. gold futures for April delivery gained 1 per cent to US$5,029.40 an ounce.
Currencies and bonds
The Canadian dollar strengthened against its U.S. counterpart.
The day range on the loonie was 73.06 US cents to 73.58 US cents in early trading. The Canadian dollar was up about 2.1 per cent against the greenback over the past month.
The U.S. dollar index, which weighs the greenback against a group of currencies, dropped 0.67 per cent to 96.97.
The euro rose 0.8 per cent to US$1.1911. The British pound gained 0.17 per cent to US$1.3633.
In bonds, the yield on the U.S. 10-year note was last down at 4.214 per cent.
Economic news
China’s aggregate yuan financing, new yuan loans and foreign reserves
Japan’s real cash earnings and bank lending
10:30 a.m. ET: Bank of Canada’s market participants survey for Q4.
With Reuters and The Canadian Press