Futures for Canada’s main stock index fell Thursday ahead of key U.S. inflation data that may provide investors with guidance on the Federal Reserve’s monetary policy decision next month.
December S&P/TSX index futures were down 0.16% as of 6:00 a.m. ET (10:00 GMT).
The composite index hit a record high on Wednesday, led by gains in technology and consumer discretionary stocks.
All eyes will be on US Consumer Price Index (CPI) data later today, which is expected to show core inflation in September slipped slightly to 0.2% month-on-month.
Markets estimate an 82.8% chance of a 25 basis point cut at the Fed’s policy meeting next month.
The central bank cut rates by 50 basis points at its September meeting and minutes from that meeting showed that a “substantial majority” of officials supported the Fed’s decision.
Additionally, weekly U.S. jobless claims figures, due at 8:30 a.m. ET, will also attract investors’ attention.
Domestic investors are also awaiting Friday’s unemployment data which could provide clues about the Bank of Canada’s decision at its policy meeting later this month.
Among sectors, Canada’s energy sector could rebound from last session’s losses as oil prices rose due to a spike in fuel demand after Hurricane Milton hit Florida, and potential risks to Middle East crude oil supplies. [O/R]
Materials sectors could also follow rising gold and copper prices. [GOL/] [MET/L]
In corporate news, Canadian bank TD is expected to pay about $3 billion in penalties as part of a deal with U.S. regulators and prosecutors, the Wall Street Journal reported.
RAW MATERIALS
Or : 2 617,01 $ ; +0,35 % [GOL/]
US crude: $74.34; +1.50% [O/R]
Brut Brent : 77,62$ ; +1,36% [O/R]
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