07/27/2015 07:55 EDT | Updated 07/27/2016 01:12 EDT

Futures point to lower open for U.S. markets following weakness in China

TORONTO — The futures market pointed to a lower open for U.S. stocks as weakness in Asia threatened to spill over.

Asian stock markets were lower as weak Chinese manufacturing accelerated the sell-off in oil and other commodities.

Investors were also cautious ahead of the U.S. Federal Reserve's policy meeting later this week.

Meanwhile, the loonie, which flirted with its lowest level since 2004 last week, was up 0.07 of a cent at 76.79 cents US.

The September contract for crude oil fell 53 cents to US$47.61, while the August natural gas contract dropped two cents at US$2.756.

The August gold contract gained US$7.80 at US$1,093.30.



The Canadian Press