Futures contracts for Canada’s main stock index rose Wednesday, as crude and gold prices climbed and investors took stock of U.S. President Donald Trump’s latest tariff threats.
March futures on the S&P/TSX index were up 0.2% as of 7:00 a.m. ET (1200 GMT).
Gold prices rose to an 11-week high, boosted by safe-haven demand amid uncertainty over U.S. trade policies and a weaker dollar.
Oil prices increased slightly after a drop of more than 2% on Tuesday. [O/R]
Wall street futures also rose on Wednesday as investors reacted positively to Netflix’s strong quarterly results and Trump’s strong support for the AI technology sector. [.N]
The Toronto Stock Exchange’s S&P/TSX Composite Index rose for the sixth straight day Tuesday as optimism about a business-friendly U.S. government offset concerns about looming tariffs.
Mr. Trump has promised to impose tariffs on imports from China, Mexico, Canada and the European Union on February 1.
Data on the National Producer Price Index, due before the bell on Wednesday, was also in focus after a weaker-than-expected consumer price reading the previous day strengthened bets for a further reduction in rates by the Bank of Canada.
-Markets are currently pricing in an 85% chance of a 25 basis point rate cut at the central bank’s January 29 meeting.
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