Futures for Canada's main stock index fell on Monday tracking global sentiment, as subdued data from China fueled fears of a recession, while weaker commodities added to the gloom.
China's April retail sales plunged 11.1% on the year, almost twice the forecasted decline, as full or partial COVID-19 lockdowns were imposed in dozens of cities. Industrial output dropped 2.9%, while analysts had looked for a slight increase.
U.S. crude prices were down 0.7% a barrel and Brent crude lost 0.9%, while gold futures fell 0.7% to $1,795 an ounce.
June futures on the S&P/TSX index were down 0.2% at 7:00 a.m. ET.
Manufacturing data and wholesale trade data for March are due at 08:30 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index ended 2% higher at 20,099.81 on Friday, its biggest gain since February 2021.
Dow e-minis were down 54 points, or 0.17%, at 7:00 a.m. ET, while S&P 500 e-minis were down 14.75 points, or 0.37%, and Nasdaq 100 e-minis were down 68.5 points, or 0.55%.
Canadian Foreign Minister Melanie Joly said on Saturday that there should be consensus at NATO for Sweden and Finland to join the alliance, but that their accession should be quick.
ANALYST RESEARCH HIGHLIGHTS
Canadian Western Bank: National Bank of Canada ups to "outperform" from "sector perform"
Emera Inc: National Bank of Canada raises target price to C$60 from C$59
Onex Corp: RBC raises target price to C$110 from C$108
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1803.1; -0.28%
US crude: $109.61; -0.8%
Brent crude: $110.47; -0.97%
U.S. ECONOMIC DATA DUE ON MONDAY
0830 NY Fed Manufacturing for May: Expected 17.00; Prior 24.60
Canadian markets directory ($1= C$1.29)
(Reporting by Amal S in Bengaluru; Editing by Shailesh Kuber)