The TSX Composite Index kicks off the trading week in record territory after posting a strong start to 2021. However, it could be dragged lower with oil falling on U.S. dollar strength. U.S. futures are also pointing to a negative open as investors take a more cautious approach following gains last week.

BILLIONS WIPED OFF CRYPTOCURRENCY MARKET AS BITCOIN SLIDES

Cryptocurrencies have dropped sharply with bitcoin down as much as 21 per cent at one point. The drop wiped as much as US$170 billion off the cryptocurrency market in just 24 hours. Bitcoin was trading near an all-time high of nearly US$42,000 last week – more than quadrupling its value in the past year. Institutional investors have been helping to drive the recent rally.

RBC POLL SHOWS CANADIANS REMAIN BULLISH ON REAL ESTATE

While the worst of the pandemic may not even be behind us, more than half of Canadians recently polled believe home values will only go up in the immediate future. That’s according to a recent RBC Home Buying Sentiment Poll, which also says 80 per cent believe it is a good investment. Of those looking to buy right now, 38 per cent would look in the suburbs and 26 per cent would consider a rural location.

TELUS INTERNATIONAL FILES FOR U.S. IPO

Telus International has taken its first step toward an initial public offering. The company – a subsidiary of Telus – filed a registration statement with the U.S. Securities and Exchange Commission for an IPO. The company plans to file documents with Canadian regulators today. The number of shares being offered and the price range have not yet been disclosed.

OTHER NOTABLE STORIES

- Shares of Twitter are down in pre-market trading after the social media company permanently banned U.S. President Donald Trump from its platform

- Shares of Lululemon will also be in the spotlight today after the company said it expects fourth quarter earnings growth at the high end of its mid-single-digits expectation

- JPMorgan and Citigroup are the latest U.S. corporations to halt political donations following the siege of the U.S. Capitol last week

- National Bank is boosting its outlook for Barrick Gold and setting its price target at $40 per share, a 31 per cent increase from its last price

NOTABLE RELEASES/EVENTS

- NFI Group holds virtual investor day (8:30 a.m. ET)

- RBC Capital Markets Bank CEO conference (Dave McKay at 8:35 a.m. ET, Darryl White at 9:25 a.m. ET, Victor Dodig at 10:15 a.m. ET, Bharat Masrani at 11:05 a.m. ET, Louis Vachon at 12:50 p.m. ET, Brian Porter at 1:40 p.m. ET, Rania Llewellyn at 2:30 p.m. ET)

- Bank of Canada releases Business Outlook Survey (10:30 a.m. ET)

- Consumer Electronics Show begins (virtual)