Bay Street Likely To Open On Mixed Note

(RTTNews) - Canadian stocks are seen opening on a mixed note Monday morning with investors reacting to the nation's inflation data and news from Middle East. With several companies scheduled to report their quarterly earnings later this week, the mood is likely to remain a bit cautious.

Data from Statistics Canada showed the headline inflation rate in Canada fell to 2.8% in June from the over-two-year high of 3.2% in the previous month. Inflation was expected to drop to 2.9% in June.

Core consumer prices in Canada increased 0.1% June, following a 0.6% rise in May.

The Canadian market closed weak on Friday as investors largely refrained from making big moves due to the ongoing Middle East conflict. Weak technology stocks amid a sell-off in the tech sector on Wall Street weighed as well on the market.

The benchmark S&P/TSX Composite Index ended down by 76.30 points or 0.22% at 35,263.85.

Asian stocks ended mixed in thin trading on Monday, with Japanese markets closed for Marine Day after the Nikkei 225 Index slumped 6.4% last week in a tech-led rout. Higher crude oil prices and inflation concerns weighed on sentiment.

European stocks are turning in a mixed performance today with investors closely following the developments on Middle East front, and looking ahead to the European Central Bank's monetary policy announcement due later in the week.

In commodities trading, West Texas Intermediate crude oil futures are down $0.28 or 0.34% at $82.21 a barrel.

Gold futures are down $6.10 or 0.16% at $4,012.70 an ounce, while Silver futures are gaining $0.619 or 1.1% at $56.945 an ounce.