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Bay Street Likely To Open Lower

Canadian shares are likely to open lower on Monday amid growth worries and some uncertainty about the U.S. and China agreeing on a trade deal before the next round of tariffs on Chinese imports take effect next week.

Weak crude oil prices may hurt energy stocks.

Investors will be reacting to the data on Canadian housing starts and building permits, due before the opening bell.

On Friday, the benchmark S&P/TSX Composite Index ended up 142.05 points, or 0.84%, at 16,006.07, led by strong gains in the energy section after crude oil prices rose sharply on OPEC production curbs move.

In company news, Canopy Growth Corporation (WEED.TO) announced that it has appointed David Klein as the new Chief Executive Officer, effective January 14, 2020. Klein, who succeeds Mark Zekulin, has previously served in a number of senior leadership capacities over the past 14 years at Constellation Brands.

Asian markets ended slightly higher on Monday despite some concerns about U.S.-China trade war after top White House economic adviser Larry Kudlow said that a Dec. 15 deadline is still in place to impose a new round of U.S. tariffs on Chinese consumer goods.

Weak exports data from China too weighed a bit on the markets.

European markets are mostly lower, weighed down by weak exports data from China and on worries about U.S.-China trade dispute. Markets are also looking ahead to the Federal Reserve's interest rate decision, due this week.

In commodities, West Texas Intermediate Crude oil futures for January are down $0.59, or 0.98%, at $58.61 a barrel.

Gold futures for February are gaining $3.40, or 0.25%, at $1,468.50 an ounce.

Silver futures for March are rising $0.94, or 0.57%, at $16.690 an ounce, while Copper futures for March are up $0.0075, or 0.28%, at $2.7325 per pound.

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