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Stocks Headed Lower on U.S.-China Trade Talks

Futures for Canada's main stock index inched lower on Monday, pressured by worries over the outcome of the upcoming U.S.-China trade talks.

The TSX Composite Index gained 80.32 points to end Friday and the week at 16,449.35, and take some of the blow out of a weekly loss of 244 points, or 1.47%

The Canadian dollar gained 0.13 cents to 75.12 cents U.S. early Monday

December futures were down 0.04% early Monday.

RBC cut the target price on Athabasca Oil to $0.90 from $1.00

UBS raised the price target on TCP Energy to $66.00 from $65.00

RBC cut the target price on Toronto-Dominion Bank to $80.00 from $82.00

ON BAYSTREET

The TSX Venture Exchange gained 0.98 points Friday to 558.76, for a downward weekly journey of 10.8 points, or 1.9%,

ON WALLSTREET

U.S. stock index futures were lower Monday as investors prepared for the start of U.S.-China trade talks later this week

Futures for the Dow Jones Industrials slumped 41 points, or 0.2%, early Monday to 26,484

Futures for the S&P 500 docked five points, or 0.2%, at 2,946

NASDAQ Composite fell 12.75 points, or 0.2%, to 7,754

The moves in pre-market trade come after a media report suggested Chinese officials were increasingly reluctant to agree to a broad trade deal pursued by President Donald Trump.

Vice Premier Liu He, who will lead negotiations for China, told dignitaries that his offer to the U.S. will not include commitments on reforming Chinese industrial policy or government subsidies, Bloomberg reported Sunday, citing sources familiar with the matter.

Trade talks between the U.S. and China are set to resume in Washington, D.C., on Thursday.

Wall Street came into Monday's session after the Dow and S&P 500 posted their third straight weekly decline after a flurry of disappointing U.S. economic data suggested the ongoing trade war was starting to take its toll, stoking concerns of a possible recession.

The Dow fell 0.9% last week while the S&P 500 slid 0.3%.

However, that weak data also raised hope for easier monetary policy from the Federal Reserve. Market expectations for a rate cut later this month were around 80%

Overseas, in Japan, the Nikkei 225 shrank 0.2% Monday, while in Hong Kong, markets were shuttered for holiday.

Oil prices gained 70 cents to $53.51 U.S. a barrel.

Gold prices slipped $8.90 to $1,504.00 U.S. an ounce.

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