Canadian stocks are poised for a lower open Monday as commodities fell amid a strong dollar and concerns over demand growth from China, the second largest commodities consuming nation.
Asian markets settled mostly lower overnight after mixed data out of China underscored the fragility of the country's economic recovery. The weakening of the commodity prices due to the strength of the dollar, which is benefiting from strong U.S. data, and speculation that the Federal Reserve is mulling reducing the amount of bonds that it buys to stimulate the economy also weakened investor appetite for riskier assets. Meanwhile, European shares are in negative territory on Monday, after China's industrial production rose less than expected, and investors paused to take some profit from recent gains.
U.S. stock futures were pointing to a lower open.
On Friday, the S&P/TSX Composite Index gained 45.19 points or 0.36 percent to 12,589.09.
The price of crude oil was moving lower Monday morning amid a steady US dollar. Also downbeat macroeconomic data out of China weighed on trader sentiment. Data showed that China's industrial production rose less than expected, while retail sales growth was in line with expectations, offering very little conviction in the strength of the recovery underway in the world's second largest economy.
C rude for June shed $0.45 to $95.59 a barrel.
The price of gold was extending losses Monday morning, with the US dollar trading steady versus a basket of currencies ahead of this week's economic data. Gold for June lost $1.90 to $1,434.80 an ounce.
In corporate news from Canada, coal miner SouthGobi Resources Ltd. (SGQ.TO) slipped into the red in first quarter, reporting net loss of C$24.90 million or C$0.14 per share compared to a net income of C$3.00 million or C$0.02 per share in the year ago quarter.
Alliance Grain Traders Inc. (AGT.TO) swung to profit in first quarter, reporting adjusted net earnings of $5.1 million compared to an adjusted net loss of $2.6 million in the year ago quarter.
Caza Oil & Gas (CAZ.TO) reported a narrower first quarter net loss of C$1.3 million or C$0.01 per share compared to C$3.69 million or C$0.02 per share in the year ago quarter.
In economic news from the U.S., the Commerce Department said retail sales inched up by 0.1 percent in April following a revised 0.5 percent decrease in March. Economists had expected sales to dip by 0.3 percent compared to the 0.4 percent drop originally reported for the previous month. Excluding a 1.0 percent increase in sales by motor vehicle and parts dealers, retail sales edged down by 0.1 percent in April compared to a 0.4 percent drop in March.
From the euro zone, retail sales in Switzerland declined in March, the latest figures published by the Federal Statistical Office showed. Retail sales, adjusted for working days, declined 0.9 percent year-on-year in March. In seasonally adjusted terms, retail sales fell 0.1 percent.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.