The Canadian dollar was down 0.15 of a cent to
U.S. futures were lower ahead of the latest readings on the U.S. non-manufacturing sector and factory orders.
The Dow Jones industrial futures lost 33 points to 16,453 following a 76-point runup on Monday, the Nasdaq futures fell 9.3 points to 3,887.5 and the S&P 500 futures declined 5.75 points to 1,926.25.
Financial information company
Growth in the eurozone has been paltry since emerging from its longest-ever recession over a year ago. Markit’s July survey points to a quarterly growth rate of 0.4 per cent, which equates to an annualized rise of just 1.6 per cent.
However, economic data from
Service industries in the world's second-biggest economy grew at the slowest rate last month since
The weak figure shows the impact of a slowdown in China’s property market, said
Meanwhile, later in the morning, the U.S. Institute for Supply Management’s nonmanufacturing index is projected to show greater expansion, climbing to 56.5 in July, from 56 in June.
At the same time, factory orders from June will be released. They are expected to climb 0.6 per cent after dropping 0.5 per cent in May.
The TSX and N.Y. markets fell sharply last week, with the
Geopolitical worries centred around
But analysts also point to the fact that the rally on stock markets has been going practically without interruption for over five years and that a correction could be in the cards.
Prices were mixed on commodity markets as September crude gained a dime to
Meanwhile, the Canadian earnings season remains in high gear with reports out this week from a variety of major corporations, including
One sector of particular interest are the insurers — three majors report including
Insurers were a major casualty of the 2008 financial crisis as gains in stock markets withered and bond yields sank but now they are close to 52-week highs.
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