A look at Monday morning’s market action
Wall Street futures were little changed early Monday as traders look ahead to more earnings in the days ahead and weigh the impact of a disappointing reading on China’s economy on global markets. Major European markets were mostly weaker.In the early premarket period, Dow, S& and Nasdaq futures all hovered near break even. All three indexes are coming off a winning week despite a mixed session on Friday.
On Wall Street, markets are awaiting more bank earnings, after a solid showing form a handful of lenders on Friday. Bank of America and Morgan Stanley are both scheduled to report on Tuesday. On Wednesday, Tesla and Netflix both report results.with be at the forefront, with Statistics Canada releasing the consumer price index for June on Tuesday morning. In May, the annual rate of inflation came in at 3.4 per cent, its slowest pace since 2021. That was down from 4.4 per cent in April.
The day range on Brent was US$78.45 to US$79.56 in the early premarket period. The range on West Texas Intermediate was US$74.02 to US$75.14. The day range on the loonie was 75.56 US cents to 75.74 US cents in the predawn period. The Canadian dollar has gained 0.55 per cent against the greenback over the past five days and is up 2.6 per cent for the year to date.
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