Canada stocks-Toronto stocks slip as Barrick tumbles; US-Iran talks in focus

In company news, Western Copper and Gold appointed Mark E. Smith as chairman. Shares of the miner were up 1.7%.

Canada is discussing trade concessions with the U.S. to avoid new tariffs, a source familiar with the talks said on Friday.

Canada's main stock index edged lower on Monday, pressured by losses in Barrick Mining after it missed quarterly profit estimates, while investors assessed developments in the Middle East and awaited key U.S. economic data due later in the week.

The S&P/TSX Composite Index was down 0.1% by 10:00 a.m. ET.

• Barrick Mining shed more than 8% after the miner missed second-quarter profit estimates, leading declines on the main index.
• Other miners also traded lower as gold prices slipped, pressured by a firmer U.S. dollar. The materials sector fell 2%.
• Eight out of the index's 10 major sectors traded lower.

A lot of what is going to determine the direction for stocks this week is going to be the U.S. inflation data, said Angelo Kourkafas, senior global investment strategist at Edward Jones Investments.

U.S. Consumer Price Index (CPI) data for July is due on Wednesday and Producer Price Index (PPI) on Thursday.

Near-term interest rate-hike bets eased after data showed the U.S. economy unexpectedly shed jobs in July. Traders are now pricing in a 46% chance of a rate hike in September, according to the CME FedWatch tool.