Global market were muted as investors reassessed positions after last week’s AI-sparked selloff.

Wall Street futures were mixed with traders looking out for retail sales numbers that kick off a series of key data releases this week.

TSX futures were in positive territory after Canada’s main stock index posted its largest gain in six months yesterday.

In Canada, investors are getting results from Finning International Inc., Intact Financial Corp. and Toromont Industries Ltd.

On Wall Street, markets are watching earnings from AstraZeneca PLC, Coca-Cola Co., Ford Motor Co., Gilead Sciences Inc., CVS Health Corp., Duke Energy Corp., Marriott International, Spotify Technology SA, Ecolab Inc. and Robinhood Markets Inc.

“Investors appear to be losing patience with their Big Tech darlings – Microsoft, Google, Amazon and Meta – despite their strong results,“ Ipek Ozkardeskaya, senior analyst at Swissquote, wrote in a note.

“Meanwhile, value stocks have started to close the gap with tech – the widely anticipated rotation trade. ... This has been the base-case scenario for many global investors and is expected to continue.”

Overseas, the pan-European STOXX 600 was flat in morning trading. Britain’s FTSE 100 declined 0.18 per cent, Germany’s DAX climbed 0.03 per cent and France’s CAC 40 advanced 0.31 per cent.

In Asia, Japan’s Nikkei closed up 2.28 per cent at a fresh record high, while Hong Kong’s Hang Seng rose 0.58 per cent.

Oil prices edged down as traders gauged the ​potential for supply disruptions after U.S. guidance for ‍vessels transiting the Strait of Hormuz kept attention squarely on tensions between Washington and Tehran.

Brent crude oil futures declined 0.35 per cent to US$68.80 a barrel. ‍West ​Texas Intermediate (WTI) crude fell 0.47 per cent to US$64.06.

“The market is still focused on the tensions between Iran and the U.S.,” said Tamas Varga, an oil analyst at brokerage PVM.

“But unless there are concrete signs of supply disruptions, prices will likely start going lower,” he said. “It’s an ⁠oversupplied market against geopolitics.”

In other commodities, spot gold fell ​0.2 per cent to US$5,055.29 an ounce. U.S. gold futures for April delivery were steady at US$5,078.10 an ounce.

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

The day range on the loonie was 73.65 US cents to 73.81 US cents in early trading. The Canadian dollar was up about 2.44 per cent against the greenback over the past month.

The U.S. dollar index, which weighs the greenback against a group of currencies, inched up 0.02 per cent to 96.84.

The euro slipped 0.05 per cent to US$1.1911. The British pound slid 0.23 per cent to US$1.3665.

In bonds, the yield on the U.S. 10-year note was last down at 4.184 per cent.

6 a.m. ET: U.S. NFIB Small Business Economic Trends Survey for January.

8:30 a.m. ET: U.S. retail sales for December. The Street is projecting a gain of 0.5 per cent from November and up 0.4 per cent year-over-year.

8:30 a.m. ET: U.S. employment cost index for Q4. Consensus is a rise of 0.8 per cent from Q3 and 3.5 per cent year-over-year.

8:30 a.m. ET: U.S. import prices for December.

10 a.m. ET: U.S. business inventories for November.

With Reuters and The Canadian Press