Futures Drop with Commodity Prices

Futures linked to Canada's main stock index fell on Monday, weighed down by declining commodity prices, while uncertainty set in among investors as they awaited U.S. data and comments from Federal Reserve officials scheduled this week.

The TSX Composite Index lost 59.01 points to 21,639.10 or 368 points Friday, or 1.67% on the week

The Canadian dollar sank 0.07 cents to 72.73 cents U.S.

Futures slipped 0.4% Monday.

In corporate news, Solaris Resources filed for mixed shelf offering of up to $200 million, as per regulatory filings.

In economic news, Statistics Canada reported foreign investors acquired $41.2 billion of Canadian securities in April, the largest investment in two years. At the same time, Canadian investment in foreign securities slowed sharply to $2.5 million, from a record investment of $35.6 billion in March.

Moreover, housing starts zoomed to 264,500 in May, compared to 241,100 in the prior-year quarter.

ON BAYSTREET

The TSX Venture Exchange dropped 1.11 points to 574.09 Friday, for a week-long drop of 14.2 points, or 2.4%.

ON WALLSTREET

Stock futures were little changed on Monday morning as traders start a holiday-shortened week.

Futures for the Dow Jones Industrials retreated 55 points, or 0.1%, to 38,954.

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Futures for the S&P 500 gave up 0.25 points at 5,502.

Futures for the NASDAQ Composite gained 35.75 points, or 0.2%, to 19,980.50.

The major averages were mixed last week, with the blue-chip Dow posting its third losing week in four, while the S&P and NASDAQ rallied to record highs and notched their seventh up week in the last eight.

This week, investors will assess if that rally can continue, with cracks emerging in the market outlook.

This week will be a holiday-shortened week, with markets closed Wednesday for the Juneteenth holiday.

Investors are monitoring May retail sales data, due out on Tuesday, as well as home sales and housing starts data later in the week. Lennar, Kroger, Darden Restaurants and CarMax will report quarterly earnings.

In Japan, the Nikkei 225 dropped 1.8% Monday, while the Hang Seng in Hong Kong hesitated 5.66 points.

Oil prices added 22 cents to $78.67 U.S. a barrel.

Gold prices hiked $15.00 to $2,334.10 U.S. an ounce.