Equities
Global markets swung between gains and losses as investors remained concerned about the lack of progress toward a resolution to the Middle East conflict.
Wall Street futures were mixed after major North American markets closed marginally lower yesterday.
TSX futures were in positive territory as investors assessed retail sales numbers.
On Wall Street, markets are watching earnings from Procter & Gamble Co. and Norfolk Southern Corp.
“The week has ended with an escalation after a de-escalation and that has taken the edge off sentiment,” said Rory McPherson, chief market strategist at financial planning firm Wren Sterling.
Wall Street’s week ahead: Soaring U.S. stocks face pivotal week of tech-led earnings, Fed meeting
Overseas, the pan-European STOXX 600 was down 0.59 per cent in morning trading. Britain’s FTSE 100 slid 0.43 per cent, Germany’s DAX declined 0.22 per cent and France’s CAC 40 fell 0.88 per cent.
In Asia, Japan’s Nikkei closed 0.97 per cent higher, while Hong Kong’s Hang Seng advanced 0.24 per cent.
Commodities
Oil were in flux after a Pakistani government source said Iranian Foreign Minister Abbas Araqchi was expected to arrive in Islamabad on Friday night with a small team and peace talks with the U.S. were likely to take place.
Brent crude futures were up 0.65 per cent to US$105.80 a barrel. West Texas Intermediate (WTI) futures were little changed at US$95.91.
“There’s set to be fresh financial pain ahead as key shipments from the region remain blocked,” said Susannah Streeter, chief investment strategist at UK investment service Wealth Club. ”That is set to keep costs elevated for a vast array of commodities.”
In other commodities, spot gold was down 0.2 per cent to US$4,683.23 an ounce. U.S. gold futures for June delivery fell 0.5 per cent to US$4,699.
Currencies and bonds
The Canadian dollar strengthened against its U.S. counterpart.
The day range on the loonie was 72.90 US cents to 73.12 US cents in early trading. The Canadian dollar was up about 1.53 per cent against the greenback over the past month.
The U.S. dollar index, which weighs the greenback against a group of currencies, dropped 0.1 per cent to 98.68. The U.S. dollar traded at $1.3686.
The euro advanced 0.21 per cent to US$1.1710. The British pound climbed 0.22 per cent to US$1.3496.
In bonds, the yield on the U.S. 10-year note was last down at 4.322 per cent.
Other corporate news
Enbridge Inc. is embarking on a $4-billion expansion of its pipeline system for transporting natural gas in British Columbia after receiving approval from the federal government, Brent Jang reports.
Canada’s Cohere Inc. and Aleph Alpha GmbH in Germany has announced a merger to create an artificial-intelligence company that can better counterbalance the U.S. technology giants that dominate the industry today, Joe Castaldo reports.
Economic news
Japan’s CPI for March.
8:30 a.m. ET: Canadian retail sales for February, which rose 0.7 per cent to $72.1-billion as sales at new and used car dealers climbed. The Street was projecting a rise of 0.9 per cent from January.
8:30 a.m. ET: Canada’s wholesale trade for March.
10 a.m. ET: U.S. University of Michigan Consumer Sentiment survey for April.
Also: Ottawa’s budget balance for February.
With Reuters and The Canadian Press