June futures on the S&P/TSX index were down 1.4% at 6:49 a.m. ET.

Crude oil slipped and prices of industrial metals were weaker as major consumer China tightened COVID-19 curbs in its two biggest cities, while gold fell more than 1% on a more hawkish outlook for Federal Reserve policy tightening. [O/R][GOL/]

Data for Canada's March building permits is due at 8:30 a.m. ET.

The Toronto Stock Exchange's S&P/TSX composite index ended 0.3% lower on Friday at 20,633.28, its lowest closing level since Jan. 27. The benchmark index also recorded its sixth straight week of declines. [.TO]

Dow e-minis were down 519 points, or 1.58% at 6:49 a.m. ET, while S&P 500 e-minis were down 77.75 points, or 1.89% and Nasdaq 100 e-minis were down 288.25 points, or 2.27%. [.N]

TOP STORIES [TOP/CAN]

First Quantum Minerals said on Sunday its board has approved plans for a $1.25 billion expansion of the company's Kansanshi copper mine in Zambia, first floated in January 2020, a decision the miner said was prompted by "renewed confidence" in Zambia's investment climate.

Canada's Commissioner of Competition intends to oppose Rogers Communications Inc's proposed C$20 billion ($16 billion) merger with Shaw Communications Inc, the companies said in a statement early Saturday.

ANALYST RESEARCH HIGHLIGHTS [RCH/CA]

Canadian Natural Resources: Credit Suisse raises target price to C$93 from C$85

Fortis Inc: Veritas Research raises to buy from reduce

Kinaxis Inc: ATB Capital Markets raises target price to C$210 from C$200

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1858.6; -1.29% [GOL/]

US crude: $107.29; -2.34% [O/R]

Brent crude: $110.02; -2.08% [O/R]

U.S. ECONOMIC DATA DUE ON MONDAY

1000 Employment Trends for April: Prior 120.56

1000 Wholesale inventory, R mm for March: Expected 2.3%; Prior 2.3%

1000 Wholesale sales mm for March: Prior 1.7%

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report [.TO]

Canadian dollar and bonds report [CAD/] [CA/]

Reuters global stocks poll for Canada

Canadian markets directory

($1= C$1.29)

(Reporting by Amal S in Bengaluru; Editing by Aditya Soni)