U.S. government shutdown<\/a> that was set to delay the release of key jobs data.<\/p>\nTSX futures were down, mirroring U.S. losses. <\/p>\n
In Canada, investors are getting results from NovaGold Resources Inc.<\/p>\n
On Wall Street, markets are watching earnings from Acuity Brands Inc. and RPM International Inc.<\/p>\n
U.S. government operations shut down at midnight after Congress and the White House failed to reach a funding deal. <\/p>\n
With no clear path out of the impasse, agencies warned the shutdown would halt the release of a closely watched September employment report and lead to the furlough of 750,000 federal workers at a daily cost of US$400-million.<\/p>\n
U.S. futures wobbled on the news. <\/p>\n
Analysts noted that past shutdowns have not been overly impactful on markets, but cautioned that the blackout in federal data that could leave investors in the dark about the state of the economy and by extension, the Federal Reserve\u2019s interest rate path.<\/p>\n
\u201cWe would expect both the September employment report and next week\u2019s CPI release to be delayed until after the government re-opens,\u201d J.P.Morgan economists said in a note.<\/p>\n
The current shutdown coincides with elevated stock valuations and a fragile mood, heightening potential volatility. It could also jolt the labour market if federal agencies resort to mass layoffs, as U.S. President Donald Trump has vowed to do.<\/p>\n
Overseas, the pan-European STOXX 600 was up 0.67 per cent in midday trading. Britain\u2019s FTSE 100 rose 0.64 per cent, Germany\u2019s DAX gained 0.49 per cent and France\u2019s CAC 40 rose 0.41 per cent.<\/p>\n
In Asia, Japan\u2019s Nikkei closed 0.85 per cent lower, while Hong Kong\u2019s Hang Seng was up 0.87 per cent. Chinese markets were closed for a public holiday. <\/p>\n
Commodities<\/p>\n
Oil steadied after two days of declines as investors weighed potential OPEC+ plans for a larger output hike next month against the prospect of shrinking inventories in the U.S.<\/p>\n
Brent crude futures for December delivery were down 4 US cents to US$65.99 a barrel. U.S. West Texas Intermediate crude fell 5 cents to US$62.32 a barrel. Both contracts headed 1 per cent lower earlier in the volatile trading session.<\/p>\n
Oil has dropped on the market anticipating a similar size OPEC+ production increase in November and U.S. and Asian demand starting to fall, Rystad analyst Janiv Shah said.<\/p>\n
\u201cU.S. drawdowns have slowed, so some bullish movement could start to flip,\u201d he added.<\/p>\n
In other commodities, spot gold climbed 0.9 per cent at US$3,891.96 per ounce, after hitting an all-time high of US$3,895.09 earlier in the session.<\/p>\n
Currencies and bonds<\/p>\n
The Canadian dollar weakened against its U.S. counterpart.<\/p>\n
The day range on the loonie was 71.76 US cents to 71.91 US cents in early trading. The Canadian dollar was down about 0.95 per cent against the greenback over the past month. <\/p>\n
The U.S. dollar index, which weighs the greenback against a group of currencies, lost 0.08 per cent to 97.70. <\/p>\n
\u201cOn the currency front, the US dollar tends to weaken when the government shuts down. Limited dollar appetite and a softer DXY come as no surprise today,\u201d said Swissquote Bank analyst Ipek Ozkardeskaya.<\/p>\n
The euro gained 0.05 per cent to US$1.1741. The British pound rose 0.3 per cent to US$1.3487.<\/p>\n
In bonds, the yield on the U.S. 10-year note was last down at 4.141 per cent.<\/p>\n
Economic news<\/p>\n
China\u2019s Golden Week begins (markets closed through Oct. 8)<\/p>\n
Japan manufacturing PMI<\/p>\n
Euro zone CPI and manufacturing PMI<\/p>\n
(9:30 a.m. ET) Canada\u2019s S&P Global Manufacturing PMI for September.<\/p>\n
(1:30 p.m. ET) Bank of Canada\u2019s summary of deliberations from Sep. 17 meeting are released.<\/p>\n
(2:05 p.m. ET) Bank of Canada Senior Deputy Governor Carolyn Rogers holds fireside chat in Ottawa.<\/p>\n
Also: U.S. and Canadian auto sales for September expected.<\/p>\n
With Reuters and The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"Equities Wall Street futures fell and global markets were mixed as investors assessed a U.S. government shutdown that…\n","protected":false},"author":2,"featured_media":182475,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[3244,45,49,48,3245,3237,3240,2640,3242,3246,166,3247,3241,3239,3243,3238],"class_list":{"0":"post-182474","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-bonds","9":"tag-business","10":"tag-ca","11":"tag-canada","12":"tag-canadian-dollar","13":"tag-dow-jones","14":"tag-equities","15":"tag-futures","16":"tag-gold","17":"tag-loonie","18":"tag-nasdaq","19":"tag-newnewsletter","20":"tag-oil","21":"tag-sd","22":"tag-silver","23":"tag-tsx"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/182474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=182474"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/182474\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/182475"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=182474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=182474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=182474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}