Stocks off to Shaky Start


Futures for Canada’s main stock slipped on Monday as global investor sentiment remained cautious ahead of key U.S. economic data that could help gauge the timing and scope of monetary policy easing this year.

The S&P/TSX Composite Index fell 222.1 points, or 1%, to close Friday at 22,007. On the week, the index collapsed 262 points, or 1.18%.

The Canadian dollar dipped 0.06 cents to 72.62 cents U.S.

June futures were down 0.2% Monday.

ON BAYSTREET

The TSX Venture Exchange dipped 13.73 points, or 2.3% Friday, to 588.25, for a decline on the week of 22.6 points, or 3.7%.

ON WALLSTREET

U.S. stock futures were slightly lower Monday after a winning week, as traders looked ahead to the Federal Reserve’s interest rate decision and May inflation data.

Futures for the Dow Jones Industrials fell 51 points, or 0.1%, to 38,806.

Futures for the S&P 500 sifted off 3.25 points, or 0.1%, at 5,352.50.

Futures for the NASDAQ Composite eased back 0.5 points to 19,037,25.

Nvidia shares were down 0.2% as the stock’s 10-1 spilt took effect. The chipmaker now trades around $120 per share post-split.

Notably, Nvidia notched a 10% advance last week as enthusiasm for the artificial intelligence darling pushed the chipmaker past the $3 trillion market capitalization for the first time.

Elsewhere, on Monday, investors will also keep an eye on Apple’s Worldwide Developers Conference at which the iPhone maker is anticipated to makes its latest software announcements.

GameStop shares climbed nearly 8% in premarket trading Monday, set for a rebound from Friday’s big sell-off.

The meme stock had a roller-coaster week, which surged first after Keith Gill, the trader who inspired 2021’s epic mania, shared screenshots of his portfolio holding massive positions in the video game retailer.

In Japan, the Nikkei 225 added 0.9% Monday, while much of the rest of Asia, including Hong Kong, was shuttered for holiday.

Oil prices gained 49 cents to $76.02 U.S. a barrel.

Gold prices dulled $7.60 to $2,317. 40 U.S. an ounce.



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