Wall Street stock futures fell Monday after Chinese shares dropped sharply overnight.

Shanghai’s Composite Index ended 6.7% lower at 2667.75 while the Shenzhen Composite Index plunged 7.1% to close at 904.70.

Hong Kong’s Hang Seng lost 1.9%, abd Tokyo’s Nikkei 225 stock average lost 0.4% after Japan’s opposition party came to power in a landslide victory.

In Europe, the London market is closed while the Frankfurt DAX dipped 0.78% and the Paris CAC 40 lost 0.75%.

Here at home, real gross domestic product increased 0.1% in June, the first monthly increase since July 2008. Economists had expected a 0.2% increase.

Statistics Canada said Monday that for the second quarter as a whole, real GDP decreased 0.9%, a less pronounced rate of decline than the 1.6% drop in the previous quarter.

The Canadian dollar was down 1.04 cents to US90.54¢.

South of the border, the Chicago purchasing managers’ index for August at 9:45 a.m.

More attention will focus this week on Friday’s U.S. non-farm payroll data for August, with another 250,000 job losses expected, slightly more than July’s 247,000.

In M&A news, drill-bit maker Baker Hughes said it would acquire oil-services company BJ Services in a US$5.5 billion stock and cash transaction.

In commodities news, gold was down US$2.40 at US$956.40, while crude oil was down US$1.53 at US$71.21.

On Friday, Toronto stocks closed modestly higher after a see-saw session. The S&P/TSX composite index closed up 44.01 points, or 0.4%, at 10,977.97.

For the week, the benchmark index advanced 1.4%.

Financials were off 1.1% with Bank of Nova Scotia sliding 3.6% to end the day at $46.40.

Scotiabank posted a lower profit on Friday as it set aside more money to cover loan loss provisions.

The junior S&P/TSX Venture composite index added 6.56 points, or 0.55%, to close at 1,188.71.

In New York, a weak consumer sentiment report offset positive news from tech bellwethers Dell and Intel.

The Dow Jones industrial average declined 36.43 points, or 0.38%, to end at 9,544.20. The S&P 500 lost only 2.05 points, or 0.20%, to 1,028.93.

But the Nasdaq composite index inched up 1.04 points, or 0.05%, to close at 2,028.77.

For the week, the Dow advanced 0.4%, while the S&P 500 gained 0.3% and the Nasdaq rose 0.4%.

IE

Friday wrap: Resources keep TSX in the black