Global stocks were mixed investors awaited key talks between U.S. President Donald Trump and Russian leader Vladimir Putin over Ukraine in Alaska and for U.S. retail data that may give clues on the health of the world’s biggest economy.

Wall Street futures were also mixed with the Nasdaq moving lower after producer price index data yesterday complicated the inflation outlook for the U.S. Federal Reserve.

TSX futures were in positive territory after Canada’s main stock index closed down yesterday.

“There’s still a small degree of risk premium in European markets because of the war. Any type of resolution will ultimately pare that back,” said Shaniel Ramjee, co-head of multi-asset at Pictet Asset Management.

“But I think that the market has learnt not to expect too much from these negotiations. Ultimately, [Ukrainian President Volodymyr] Zelensky and the Europeans are not invited. They will need to be involved in any final negotiation.”

Overseas, the pan-European STOXX 600 was up 0.15 per cent in morning trading. Britain’s FTSE 100 edged up 0.04 per cent, Germany’s DAX rose 0.26 per cent and France’s CAC 40 gained 0.63 per cent.

In Asia, Japan’s Nikkei closed 1.71 per cent higher, while Hong Kong’s Hang Seng fell 0.98 per cent.

Oil prices fell as concerning economic data from the U.S. and China, the world’s two largest oil users, increased worries about fuel demand while investors also await the Trump-Putin summit.

Brent crude futures slid 0.8 per cent to US$66.34 a barrel. West Texas Intermediate (WTI) crude futures declined 0.9 per cent to US$63.39.

“The market is watching out for whether there is a ceasefire or not. An expectation of a ceasefire translates into more Russian production,” said Giovanni Staunovo, commodity analyst at UBS. “The question is will there be escalation or de-escalation?”

In other commodities, spot gold rose 0.3 per cent to US$3,345.21 an ounce. Bullion has lost 1.5 per cent for the week. U.S. gold futures for December delivery gained 0.3 per cent to US$3,391.70.

The Canadian dollar strengthened against its U.S. counterpart.

The day range on the loonie was 72.35 US cents to 72.52 US cents in early trading. The Canadian dollar was down about 0.52 per cent against the greenback over the past month.

The U.S. dollar index, which weighs the greenback against a group of currencies, dropped 0.4 per cent to 97.86.

The euro rose 0.33 per cent to US$1.1683. The British pound advanced 0.17 per cent to US$1.3553.

In bonds, the yield on the U.S. 10-year note was last up at 4.294 per cent.

China retail sales, industrial production and fixed asset investment

Japan real GDP and industrial production

(8:30 a.m. ET) Canadian manufacturing sales and new orders for June. Estimates are month-over-month increases of 0.4 per cent and 0.5 per cent, respectively.

(8:30 a.m. ET) Canadian wholesale trade for June. Estimate is a gain of 0.7 per cent from May.

(8:30 a.m. ET) Canada’s new motor vehicle sales for June. Estimate is a year-over-year rise of 5.5 per cent.

(8:30 a.m. ET) U.S. retail sales for July. The Street is projecting a rise of 0.5 per cent from June.

(8:30 a.m. ET) U.S. import prices for July. Estimate is flat month-over-month and down 0.3 per cent year-over-year.

(9 a.m. ET) Canada’s existing home sales for July. Estimate is an increase of 10.0 per cent from the same period a year ago with average prices remaining unchanged.

(9 a.m. ET) Canada’s MLS Home Price Index. Estimate is a year-over-year decline of 4.0 per cent.

(9:15 a.m. ET) U.S. industrial production and capacity utilization for July.

(10 a.m. ET) U.S. University of Michigan Consumer Sentiment Index for August (preliminary reading).

(10 a.m. ET) U.S. business inventories for June.

With Reuters and The Canadian Press