Equities
Global markets were mixed amid the continued Middle East conflict as Iran warned U.S. forces not to enter the Strait of Hormuz after President Donald Trump’s offer to “guide” ships stranded there.
Wall Street futures were in the red, while TSX futures edged lower.
In Canada, investors are getting results from Gibson Energy Inc. and Cargojet Inc.
On Wall Street, markets are watching earnings from Palantir Technologies Inc., Loews Corp. and Tyson Foods Inc.
“This week, earnings will continue to flow, with AMD and Arm Holdings in focus for the semiconductor space,” Ipek Ozkardeskaya, senior analyst at Swissquote, wrote in a note.
“Results are expected to be strong, but whether they beat expectations will be key for the continuation of the rally.”
Overseas, the pan-European STOXX 600 was down 0.17 er cent in morning trading. Germany’s DAX rose 0.26 per cent and France’s CAC 40 declined 0.52 per cent. British markets are closed for holiday.
In Asia, markets in Japan and mainland China are also closed for holiday. Hong Kong’s Hang Seng closed 1.24 per cent higher.
Commodities
Oil prices rose as Iranian state TV reported that country’s navy said it prevented the entry of U.S. warships in the Strait of Hormuz area.
Brent crude futures were up 5.18 per cent to US$113.80 a barrel. West Texas Intermediate (WTI) crude gained 4.66 per cent to US$106.70 a barrel.
“The broader market remains tightly supported by persistent supply disruptions and geopolitical uncertainty,” said Priyanka Sachdeva, analyst at Phillip Nova.
“Unless there is a clear and sustained resolution that restores normal flows through the Strait of Hormuz, oil prices are likely to remain elevated, with risks still tilted toward further upside.”
In other commodities, spot gold fell more than 1 per cent to US$4,544.29 an ounce. U.S. gold futures for June delivery fell 2.3 per cent to US$4,538.80.
Currencies and bonds
The Canadian dollar weakened against its U.S. counterpart.
The day range on the loonie was 73.47 US cents to 73.65 US cents in early trading. The Canadian dollar was up about 2.28 per cent against the greenback over the past month.
The U.S. dollar index, which weighs the greenback against a group of currencies, climbed 0.1 per cent to 98.26. The U.S. dollar traded at $1.3603.
The euro inched lower 0.03 per cent to US$1.1720. The British pound slid 0.1 per cent to US$1.3563.
In bonds, the yield on the U.S. 10-year note was little changed at 4.379 per cent.
Economic news
Euro zone’s manufacturing PMI
10 a.m. ET: U.S. factory orders for March. The Street is projecting a rise of 0.5 per cent from February.
2 p.m. ET: U.S. Senior Loan Officer Opinion Survey for April
3:30 p.m. ET: BoC Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers appear before the House Standing Committee on Finance
With Reuters and The Canadian Press