European markets are mostly up on Monday thanks to better-than-expected earnings from JPMorgan Chase & Co. released late last week and due to second quarter gross domestic product data from China that shows the world's second largest economy has met analyst expectations though at 7.6 per cent year-over-year, it's at its slowest pace in more than three years.
Asian bourses are mixed on Monday with a number of companies in the region posting worrisome guidance and lingering fears that the Chinese economy will continue to slow down.
Prior to the TSX open, here's what you should know:
*U.S. futures point to a lower open with futures on the Dow Jones Industrial Average falling 36 points to 12,676, S&P 500 futures lost four points to 1,347.70, and Nasdaq-100 futures declined seven points to 2,570.
*The price of oil has fallen below US$87 per barrel on concerns that China, the world's second largest consumer of crude, will continue to see economic growth difficulties and in-turn hurt demand for oil. Benchmark oil for August delivery was down 41 cents at US$86.69 a barrel while Brent crude was up six cents at $101.48 on the ICE futures exchange.
*Gold prices inched downward as investors await a key presentation from the U.S. Federal Reserve later this week. Spot gold edged down 0.2 per cent to $1,587.19 an ounce, the U.S. gold futures contract for August lost 0.3 per cent to $1,587.10.
*The Canadian dollar closed up 0.39 of a cent last Friday to trade at 98.56 cents US.
*Statistics Canada will issue Canada's international transaction in securities for May 2012 report today.
*On the U.S. economic data calendar for Monday is a monthly retail sales report for June and a business inventories report for May, both via the U.S. Commerce Department. The New York Federal Reserve will release the Empire State Manufacturing Index for July.