(RTTNews) - Canadian shares are likely to open mixed Monday morning, with investors tracking news about coronavirus cases, tighter lockdown restrictions, and looking ahead to possible stimulus announcements from the U.S.
Oil prices are a bit subdued, while gold futures are edging higher.
Investors will also be looking ahead to this week's Federal Reserve policy meeting amid bets that officials will likely put off any changes in their bond-buying program until 2022.
The Canadian market ended weak on Friday, losing for a second straight session, as energy shares tumbled on weak crude oil prices. The benchmark S&P/TSX Composite Index ended with a loss of 70.29 points or 0.39% at 17,845.91, nearly 60 points off the day's low of 17,790.23. The index shed about 0.35% in the week.
Aurinia Pharmaceuticals Inc.(AUP.TO) shares will be in focus after the FDA approved the drugmaker's LUPKYNIS in combination with a background immunosuppressive therapy regimen to treat adult patients with active lupus nephritis.
Premium Brands Holdings Corporation (PBH.TO) and a coalition of Mi'kmaq First Nations have announced the successful completion of Clearwater Seafoods Incorporated. The acquisition has been made at a price of $8.25 per Share in a transaction valued at approximately $1 billion, including debt.
Asian stocks advanced on Monday on expectations of strong quarterly numbers from big name companies and optimism about the prospects for additional stimulus in the U.S.
European stocks are notably lower as worries about rising Covid-19 cases, tighter lockdown restrictions in several places and doubts over the ability of vaccine makers to supply the promised doses on time offset optimism about the prospects for additional stimulus in the U.S.
In commodities, West Texas Intermediate Crude oil futures are down marginally at $52.22 a barrel.
Gold futures are rising $6.10 or 0.34% at $1,862.30 an ounce, while Silver futures are gaining $0.084 or 0.32% at $25.640 an ounce.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
