Canada's stock index weighed down by energy, financial stocks

U.S. stock markets settled higher on Monday as gains in energy shares offset losses in financials ahead of bank quarterly earnings this week.

The Dow Jones Industrial Average gained almost 10 points, even as Caterpillar contributed the most to the index gains. The technology-heavy Nasdaq Composite Index (NYSEARCA:QQQ) fell 0.2% to 5,866.77.

The Standard & Poor's 500 rose 1.62 points, or 0.1 percent, to 2,357.16.

Crude oil rose 1.61 per cent and settled at United States dollars 53.08 per barrel, after commodity markets discounted the shutdown of Libya's largest oilfield. South Korea's Kospi fell 0.9 percent.

TOSHIBA: Shares in Toshiba Corp. slipped 3.2 percent ahead of the possible release of its earnings report for April-December, which has been delayed twice already. Knight's shares were up 13.4 percent.

In company news, Straight Path Communications surged almost two-fold to $89.71 after AT&T offered a huge premium to buy the owner of wireless spectrum licenses.

Silver futures also rose almost 2% to $18.25, reversing a two-day slump.

The company's stock jumped 10 percent after Jana Partners bought an 8.8 percent stake in the supermarket chain.

Stocks have wavered in recent sessions as details remain scarce on policy changes such as tax reform and infrastructure spending, giving investors few reasons to place fresh bets. While the German DAX Index is down by 0.1 percent, the French CAC 40 Index is up by 0.1 percent and the U.K.'s FTSE 100 Index is up by 0.7 percent.

Japan's benchmark Topix was down 0.4%, while Australia's S&P/ASX 200 was up 0.6%.

In other energy trading, wholesale gasoline gained 1 cent to $1.76 a gallon.

Natural gas slid 2 cents to $3.24 per 1,000 cubic feet.

Eleven other non-OPEC oil-producing countries promised in December to cut an additional 558,000 barrels a day, reaching an overall reduction of 1.8 million barrels per day.

Gold futures were up 1.6%, in what some analysts described as investors returning to haven assets, or investments seen as safe in times of uncertainty. The May copper contract was unchanged at US$2.61 a pound.

In currency trading, the dollar fell to 110.94 yen from 111.15 yen late Friday. The euro was steady at $1.0588.

Related News: