This morning, European markets were lower early with economic and rate concerns continuing to weigh on sentiment. TSX futures were little changed. U.S. markets are closed Monday to observe Juneteenth.
Major European markets were lower early Monday with economic and rate concerns continuing to weigh on sentiment.Major U.S. and Canadian markets all saw losses on Friday but managed gains on the week. The Nasdaq finished the week up more than 3 per cent while the S&P 500 added more than 2 per cent for the week.
“The minutes will be scoured for more insight on what led to the 25 bp rate hike and what could prompt another hike in July,” Benjamin Reitzes, managing director of Canadian rates and macro strategist at BMO, said. Elsewhere, retail sales figures for April will also be released Wednesday. In March, sales fell by 1.4 per cent. Early estimates from Statistics Canada suggest an increase of 0.2 per cent for April. Canada’sOn the corporate side, Sobeys parent Empire Co. Ltd. releases earnings on Thursday.
Over the weekend, Goldman Sachs cut its forecast for China’s GDP growth this year to 5.4 per cent from 6 per cent. Several other major banks have made similar moves recently. In other commodities, spot gold fell 0.2 per cent to $1,953.69 per ounce by early Monday morning. U.S. gold futures were 0.2 per cent lower to $1,966.30.The Canadian dollar was slightly higher while its U.S counterpart was mostly treading water against a basket of world currencies.
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