The Daily Chase: Markets point to flat open; Federal employees strike continues

​North American equity market futures are pointing to a muted open as investors await a veritable deluge of earnings, highlighted by the tech titans.

PSAC STRIKE DRAGS ON

The standoff between the federal government and some 155,000 workers is dragging on as Ottawa squares off with the largest public-sector union in the country. The Public Service Alliance of Canada (PSAC) says it could escalate strike action to target the nation’s largest ports as the two sides remain far apart at the negotiating table, a potential escalation that could raise the stakes in the massive labour fight. When it comes to the economic impact, that remains unclear – best I’ve seen so far is RBC’s call that a prolonged strike (lasting into May) could trim up to 0.3 per cent off GDP in April, putting strain on already slowing economic output. In any case, both sides are accusing the other of resorting to delay tactics rather than working to a mutually agreeable(ish) deal, which is never a good sign in labour negotiations.

SUNCOR UNDER SCRUTINY FOR DEAD BIRDS