Energy Stocks May Drag TSX Lower Monday -- Canadian Commentary

(RTTNews) - Canadian stocks are likely to open on a mixed note Monday, with investors weighing strong U.S. manufacturing data against some disappointing reports from China.

According to a report from the Federal Reserve Bank of New York, business activity in the New York manufacturing sector has expanded at a robust pace in the month of September, with the headline business conditions index surging up 27.5, a near five-year high, and up sharply from a score of 14.7 in August.

Lower crude oil prices could unsettle energy stocks and limit market's upside.

On Friday, the S&P/TSX Composite Index closed down 2.74 points or 0.02 percent at 15,531.58, after scaling a high of 15,580.46 and a low of 15,498.12 intraday.

CAE, Inc. (CAE.TO) will be in focus after CAE Healthcare said Saturday that it will be delivering a simulation-based solution to Abiomed, Inc. (ABMD), a provider of breakthrough heart support technologies, for its Impella heart pump education programs.

Tim Hortons, Inc. (THI.TO) said Monday in its preliminary results for the third quarter that its U.S. same-store sales grew by 7 percent, while Canadian same-store sales rose 3.6 percent.

Brookfield Renewable Energy Partners L.P. (BEP.UN.TO) has raised its distribution growth target to 5 - 9 percent annually, up from previous target of 3 - 5 percent.

Canadian Pacific Railway (CP.TO) will be in focus following a rating upgrade from BMO Capital Markets.

In commodities, crude oil futures for October are down $0.87 or 0.94 percent at $91.40 a barrel.

Natural gas for October is up $0.072 or 1.88 percent at $3.930 per million btu.

Gold futures for December are up $3.10 or 0.25 percent at $1,234.80 an ounce.

Silver for December is up $0.012 or 0.06 percent at $18.618 an ounce. Meanwhile, copper is down $0.025 or 0.81 percent at $3.081 per pound.