Futures tied to Canada’s main stock index were subdued on Thursday as crude oil’s gains were offset by investor caution ahead of key U.S. inflation data that could provide insight into the path of interest rates of the Federal Reserve.
September S&P/TSX index futures were up 0.02% as of 06:41 am ET (1041 GMT).
After moderate gains in the previous session, Wall Street futures fell ahead of the presidential debate scheduled for 9 p.m. ET and data from the Personal Consumption Expenditures (PCE) Price Index, the gauge of Fed’s preferred inflation, expected on Friday. [.N]
Oil rose and was expected to boost the energy sector, as a surprise rise in U.S. inventories fueled fears of a slowdown in demand from the world’s largest oil consumer and countered concerns in the supply fueled by the escalation of the conflict in the Middle East. [O/R]
With the strength of the dollar, copper fell to its lowest level in more than two months amid uncertainty over China’s economic recovery. Meanwhile, gold prices have risen as markets focus on key US inflation data. [GOL/] [MET/L]
Canada’s benchmark index ended higher on Wednesday as gains in the materials and industrials sectors offset declines in interest-rate-sensitive stocks. [TO]
The yield on Canadian 10-year bonds rose, under pressure from a surprise acceleration in domestic inflation.
Separately, Tuesday’s inflation data also dampened investors’ hopes for a rate cut in July.
In business, BlackBerry beat first-quarter revenue estimates on Wednesday, driven by strong demand for cybersecurity services amid growing online threats.
RAW MATERIALS
Or : 2313,52 $ ; +0,69% [GOL/]
US crude: $81.21; +0.4% [O/R]
Brent : 85,58 $ ; +0,4% [O/R]
FOR NEWS FROM CANADIAN MARKETS, CLICK ON THE CODES:
TSX Market Report [.TO]
Canadian Dollar and Bonds Report [CAD/] [CA/]
Reuters Global Stock Poll for Canada
Canadian Markets Directory
($1= C$1.3682)
