Bay Street Likely To See Mixed Open

(RTTNews) - Canadian shares are likely to open on a mixed note Monday morning, tracking subdued European markets and muted cues from the commodities segment.

With key U.S. tech companies, including Amazon, Meta Platforms, Alphabet and Microsoft, due to report their quarterly earnings this week, the technology sector will be in focus.

On the economic front, data on Canadian new housing prices and wholesale sales, both for the month of March, are due at 8:30 AM ET.

In company news, Canadian National Railway Co. (CNR.TO) said that it has reached a tentative agreement with the Teamsters Canada Rail Conference or TCRC. The union represents about 6,000 CN Locomotive Engineers, Conductors, Yard Conductors, and Yard Coordinators working on CN's mainline, shortlines and yards, in Canada.

TC Energy Corp (TRP.TO) said a crack, which originated during the construction of its Keystone pipeline in rural Kansas in December was the main reason for the 14,000-barrel oil spill from the pipeline.

The Canadian market ended modestly higher on Friday, aided by gains in technology and consumer staples sections.

Several stocks from industrials, utilities and consumer discretionary sectors too posted notable gains.

Concerns about interest rates and economic slowdown weighed on sentiment.

The benchmark S&P/TSX Composite Index ended with a modest gain of 62.46 points or 0.3% at 20,693.15. The index gained about 0.55% in the week.

Asian stocks ended mostly lower on Monday as focus shifted to central bank meetings and U.S. corporate earnings.

European stocks pared early losses and are currently flat in cautious trade as investors await earnings from big U.S. tech companies, and a reading on U.S. first-quarter GDP.

In commodities, West Texas Intermediate Crude oil futures are down $0.17 or 0.22% at $77.70 a barrel.

Gold futures are gaining $4.00 or 0.2% at $1,994.50 an ounce, while Silver futures are up $0.082 or 0.33% at $25.140 an ounce.