exchanged fresh strikes<\/a> and President Donald Trump said Iran would \u201cpay the price\u201d after taking too long to negotiate, with investors also focused on U.S. inflation data that could influence the rates outlook.<\/p>\nDow futures were down 0.74 per cent, S&P 500 futures down 0.81 per cent and Nasdaq futures down 1.28 per cent, as of 6:26 a.m. ET. TSX futures fell 0.6 per cent.<\/p>\n
In Canada, investors are getting results from Major Drilling Group International Inc. and North West Co. Inc.<\/p>\n
On Wall Street, markets are watching earnings from Oracle Corp. after markets close.<\/p>\n
\u201cIt\u2019s an ongoing risk, although to a lesser extent,\u201d said Fleura Shiyanova, fundamental analyst at Kepler Unigestion in Switzerland, of the latest clashes between the U.S. and Iran. \u201cThe risks are much more understood than they were at the beginning, but now the question is how long it will last.\u201d<\/p>\n
Investors will be looking at U.S. inflation data to gauge the impact of the war.<\/p>\n
Overseas, the pan-European STOXX 600 fell 0.49 per cent in morning trading. Britain\u2019s FTSE 100 gave back 0.49 per cent, Germany\u2019s DAX lost 0.88 per cent and France\u2019s CAC 40 declined 0.46 per cent.<\/p>\n
In Asia, Japan\u2019s Nikkei closed closed 1.89 per cent lower, while Hong Kong\u2019s Hang Seng finished 0.64 per cent lower.<\/p>\n
Commodities<\/p>\n
Oil prices rose after Trump scolded Iran in a Truth Social post following tit-for-tat strikes between the U.S. and Iran overnight.<\/p>\n
Brent futures were up 1.9 per cent, at US$93.19 a barrel, while U.S. West Texas Intermediate crude was up 2.17 per cent, at US$90.11 a barrel.<\/p>\n
The latest attacks shifted traders\u2019 focus back toward war risks and potential supply disruptions, said Priyanka Sachdeva, senior market analyst at Phillip Nova. \u201cWhile diplomatic efforts remain ongoing, the latest military exchanges have reintroduced a geopolitical risk premium into oil markets,\u201d Sachdeva said.<\/p>\n
In other commodities, spot gold was down 2.7 per cent at US$4,148.86 per ounce. U.S. gold futures for August delivery shed 2.7 per cent to US$4,169.90.<\/p>\n
Currencies and bonds<\/p>\n
The Canadian dollar strengthened against its U.S. counterpart.<\/p>\n
The day range on the loonie was 71.63 US cents to 71.82 US cents in early trading. The Canadian dollar was down about 1.62 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, rose 0.09 per cent to 99.975. The dollar was pegged at $1.3936. <\/p>\n
The euro increased 0.10 per cent to US$1.1554. The British pound rose 0.07 per cent to US$1.3936.<\/p>\n
In bonds, the yield on the U.S. 10-year note was last up at 4.536 per cent.<\/p>\n
Other corporate news<\/p>\n
La Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec and Fidelity Investments Canada are backing a $300-million funding round<\/a> by financial technology company Nesto Inc., which is aiming to drastically reduce its mortgage underwriting time using artificial intelligence, The Globe\u2019s Olivia Grandy and Sean Silcoff report.<\/p>\nEconomic news<\/p>\n
China\u2019s CPI and PPI for May.<\/p>\n
8:30 a.m. ET: U.S. CPI for May. The Street is projecting a gain of 0.5 per cent from April and 4.2 per cent year-over-year.<\/p>\n
9:45 a.m. ET: Bank of Canada\u2019s policy announcement with press conference to follow at 10:30 a.m.<\/p>\n
2 p.m. ET: U.S. budget balance for May.<\/p>\n
With Reuters and The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"Equities Global stocks fell and oil prices edged up as Iran and the United States exchanged fresh strikes…\n","protected":false},"author":2,"featured_media":727481,"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":["post-727480","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bonds","tag-business","tag-ca","tag-canada","tag-canadian-dollar","tag-dow-jones","tag-equities","tag-futures","tag-gold","tag-loonie","tag-nasdaq","tag-newnewsletter","tag-oil","tag-sd","tag-silver","tag-tsx"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/727480","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=727480"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/727480\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/727481"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=727480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=727480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=727480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}