Futures tracking Canada's main stock index fell on Monday, as surging oil prices revived inflation worries ahead of key Canadian and US economic data, due later this week.
The TSX jumped 94.43 points to close Friday at 35,800.89. On the week, the index still finished in the red 5.76 points, or 0.02%.
The Canadian dollar eased 0.04 cents at 70.61 cents U.S.
December futures down 0.5% Monday morning.
Brent crude futures gained nearly 4% to about $108.25 a barrel after U.S. President Donald Trump rejected a peace deal from Iran to resolve their conflict and reopen the Strait of Hormuz
In company news, International Petroleum repurchased 148,500 shares last week under its normal course issuer bid, continuing its share buyback program
ON BAYSTREET
The TSX Venture Exchange edged higher 6.56 points to end Friday at 920.47. Over the last five sessions, the index remained lower 2.6 points, or 0.28%.
ON WALLSTREET
Stock futures fell early Monday, weighed down by a jump in oil prices and Treasury yields to start the week.
Futures for the Dow Jones Industrials faltered 295 points, or 0.6%, Monday to 51,868.
Futures for the S&P 500 dropped 40.25 points, or 0.5%, to 7,763.50.
Futures for the NASDAQ Composite descended 291.5 points, or 0.9%. to 30,597.75.
Wall Street is coming off a winning week after tech and tech-linked names outperformed. Meta Platforms rallied nearly 13% in that time, as traders cheered the company’s Muse artificial intelligence agent. Microsoft climbed more than 4%, while Apple and Nvidia advanced more than 1% each.
Brent crude traded more than 4% higher at $108.68 per barrel. West Texas Intermediate futures gained around 4% as well to $96.30, after President Donald Trump rejected conditions for a ceasefire presented by Iran.
In Japan, the Nikkei 225 ditched 0.7%, while in Hong Kong, the Hang Seng gained 0.5%.
Oil prices hiked $3.83 to $96.24 U.S. a barrel.
Gold prices sank $138.80 to $4,182.40 U.S an ounce.
