Canadian shares look headed for a negative start Monday morning, tracking weakness in global markets after data showed a slowdown in China's industrial production and retail sales growth.
Geopolitical concerns following the collapse of the Afghanistan government are also likely to weigh on sentiment. Weak commodity prices are set to hurt as well.
Data on new motor vehicles sales, manufacturing sales and wholesale sales in Canada are due out at 8:30 AM ET.
Despite hitting a fresh record high in early trades, the Canadian stock market closed slightly weak on Friday as investors largely stayed on the sidelines, looking for direction. The S&P/TSX Composite Index, which hit a new high at 20,567.11, ended the session with a loss of 2.53 points or 0.01% at 20,518.07.
Vermilion Energy Inc. (VET.TO) reported a profit of $2.79 per basic share for the second-quarter, compared to a profit of $3.15 per bais share in the preceding quarter. In the second-quarter of the previous year, the company had posted net loss of $0.45 per basic share.
Asian stocks ended weak on Monday as disappointing Chinese economic data, geopolitical concerns and weak commodity prices hurt sentiment.
European stocks are exhibiting weakness amid rising worries about the spread of the delta variant of the coronavirus in several countries, and weak Chinese economic data.
In commodities, West Texas Intermediate Crude oil futures for September are down $1.37 or 2% at $67.07 a barrel.
Gold futures are lower by about $2.10 or 0.1% at $1,776.10 an ounce, while Silver futures are down $0.279 or 1.17% at $23.500 an ounce.
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