Author: Reuters Inc.

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(Reuters) – Futures for Canada’s main stock index edged lower on Thursday, weighed down by downbeat corporate earnings from Canadian companies and in the United States, while losses were offset by an uptick in gold and oil prices.

June futures on the S&P/TSX index were down 0.2% at 6:43 a.m. ET (10:43 GMT).

The Toronto Stock Exchange’s S&P/TSX composite index ended 0.6% lower on Wednesday, logging its first decline in six sessions, dragged down by railroad shares after their disappointing quarterly results. [.TO]

Canadian miner Teck Resources missed first-quarter profit estimates on Thursday, pulled down partly by lacklustre steelmaking coal sales volumes and lower zinc prices.

U.S. stock index futures also fell on Thursday, as shares of most mega-cap growth stocks took a beating after dour quarterly results from Meta Platforms. [.N]

On the commodities front, Oil prices steadied as signs of retreating fuel demand in the U.S., the world’s biggest oil user, contended with widening conflict risks in the Middle East. [O/R]

Spot gold prices were buoyed by a weaker dollar, while copper prices also gained as funds chased the market higher after a takeover bid by BHP for Anglo American, which analysts said was focused on copper. [GOL/] [MET/L]

Data-wise, a quarterly report of gross domestic product (GDP) advance and weekly jobless claims figures are due in the U.S. at 8:30 a.m. ET.

Investors will closely monitor the personal consumption expenditure (PCE) data in the U.S., due on Friday, which is the Federal Reserve’s preferred measure of inflation, to adjust their bets on the timing of interest rate cuts in the year.

Separately, the minutes from the Bank of Canada’s last meeting showed that the six-member governing council of the central bank was split on the timing of the cuts but agreed that the borrowing costs would most likely only come down gradually.

COMMODITIES AT 6:43 a.m. ET

Gold futures: $2,325.6; flat [GOL/]

US crude: $82.85; +0.1% [O/R]

Brent crude: $88.07; +0.1% [O/R]

(Reporting by Purvi Agarwal in Bengaluru; Editing by Ravi Prakash Kumar)

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(Reuters) – Futures for Canada’s main stock index were subdued on Wednesday as declines in gold and oil prices were offset by optimistic investor sentiment in the United States.

June futures on the S&P/TSX index were flat at 6:33 a.m. ET (10:33 GMT).

Gold prices extended their fall, partly weighed down by hedge fund reductions and easing tensions of a major escalation in the Middle East. [GOL/]

Oil prices trended lower as industry data showed a surprise drop in U.S. crude stocks last week, and a drop in business activity from the world’s largest oil consumer. [O/R]

Meanwhile, S&P 500 and Nasdaq futures gained on Wall Street on a boost by growth stocks as investors lauded upbeat earnings from mega-cap Tesla. [.N]

On the data front, a March reading of retail sales data is due at 8:30 a.m. ET in Canada, that could offer some more insight on the state of inflation in the country.

All data in Canada is on the radar after Bank of Canada Governor Tiff Macklem’s hinted in early April that the central bank would be open to a June cut if a cooling trend in inflation was sustained.

Investors are also awaiting the monthly reading of the personal consumption expenditure (PCE) – the Federal Reserve’s preferred measure of inflation – for further clues on the timing of cuts in the U.S.

The Toronto Stock Exchange’s S&P/TSX composite index ended 0.64% higher on Tuesday, hitting its highest in over a week. [.TO]

In corporate news, miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an initial public offering (IPO) of its Philippine unit.

First Quantum Minerals said on Tuesday that it has cut its debt by $1.14 billion in the first quarter.

COMMODITIES AT 6:33 a.m. ET

Gold futures: $2,319.1; -0.5% [GOL/]

US crude: $82.98; -0.5% [O/R]

Brent crude: $88.13; -0.3% [O/R]

(Reporting by Purvi Agarwal in Bengaluru; Editing by Ravi Prakash Kumar)

STORY CONTINUES BELOW THESE SALTWIRE VIDEOS

(Reuters) – Futures for Canada’s main stock index edged higher on Tuesday as declines in commodity prices were countered by optimistic investor sentiment tracking a recovery on Wall Street.

June futures on the S&P/TSX index were up 0.1% at 6:32 a.m. ET (10:32 GMT).

Spot gold prices fell 1% to over a two-week low amid easing concerns of an escalation in the Middle East crisis triggered profit-taking, while copper prices dipped on caution following sessions of strong price rallies. [GOL/] [MET/L]

Oil prices traded lower after a rebound on stronger economic data out of Europe and the weight of the potential fallout from any fresh U.S. sanctions on Iran’s oil exports. [O/R]

Meanwhile, Wall Street futures rose marginally as investors geared up for a busy week packed with corporate earnings. [.N]

Big tech companies like Microsoft, Meta and Alphabet are set to report their quarterly earnings later in the week.

Canadian earnings will also pick pace with First Quantum Minerals, Rogers Communications and Imperial Oil among other giants set to report their figures throughout the week.

Data-wise, investors await a monthly reading of the personal consumption expenditure (PCE) in the U.S. – the Federal Reserve’s preferred measure of inflation – for more cues on when the central bank could start easing borrowing costs.

A March reading of retail sales data is also due in Canada on Wednesday.

The Toronto Stock Exchange’s S&P/TSX composite index ended 0.3% higher on Monday, logging its fourth consecutive session of gains, helped by technology and financial shares. [.TO]

In corporate news, TC Energy said its NGTL gas pipeline system in Alberta resumed normal operations after a rupture last week prompted the company to reduce pressure on a segment of the line.

COMMODITIES AT 6:32 a.m. ET

Gold futures: $2,302.22; -1.4% [GOL/]

US crude: $81.79; -0.1% [O/R]

Brent crude: $86.93; -0.1% [O/R]

(Reporting by Purvi Agarwal in Bengaluru; Editing by Ravi Prakash Kumar)

STORY CONTINUES BELOW THESE SALTWIRE VIDEOS

(Reuters) – Futures for Canada’s main stock index inched higher on Monday tracking a recovery in global markets as they recouped some losses from the previous week on easing Middle East tensions, while a fall in commodity prices capped gains.

June futures on the S&P/TSX index were up 0.3% at 6:45 a.m. ET (10:45 GMT), mirroring gains in their Wall Street peers. [.N]

World stocks recovered some losses on Monday as investors reversed some of their more defensive positions taken going into the weekend on fears of a wider Middle East conflict.

The Toronto Stock Exchange’s S&P/TSX composite index had, however, ended up 0.5% on Friday, as energy and interest rate-sensitive shares notched gains. [.TO]

The index pared some of its weekly decline, ending 0.4% lower.

On the commodities front, gold prices fell more than 1% as easing fears of a wider Middle East conflict boosted investors’ risk appetite, while copper prices moved upwards. [GOL/] [MET/L]

Oil prices also dropped over 1%, as the market focus switched to fundamentals after Israel and Iran played down the risk of an escalation of hostilities in the region. [O/R]

Data-wise, a March reading of key inflation data is due in the U.S. later in the week, alongside retail sales numbers for the month in Canada.

Investors will monitor the datasets for more clues on the timing of interest rate cuts in the year by central banks at home and the U.S.

Big tech companies in the U.S., including Microsoft, Alphabet and Meta, are reporting their quarterly earnings this week.

Meanwhile, miners like First Quantum and Teck Resources, among others, are set to report their figures in Canada.

In company news, Gildan Activewear recommended the election of two Browning West nominees to its board on Monday, ahead of its annual and special shareholder meeting on May 28.

COMMODITIES AT 6:45 a.m. ET

Gold futures: $2,360.3; -1.7% [GOL/]

US crude: $82.81; -0.4% [O/R]

Brent crude: $86.74; -0.6% [O/R]

(Reporting by Purvi Agarwal in Bengaluru; Editing by Ravi Prakash Kumar)

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(Reuters) – Futures for Canada’s main stock index tumbled on Friday as investors looked to minimize risk following reports of an escalation in the Middle East conflict, while rising commodity prices contained the decline.

June futures on the S&P/TSX index were down 0.2% at 6:52 a.m. ET (10:52 GMT).

Global stocks eased after reports of Israel’s attack on Iranian soil in the latest exchange of events in the region and pushed investors to safe haven assets.

Across the border, U.S. stock index futures also slipped, and the CBOE Volatility index hit its highest in five months. [.N]

On the commodities front, spot gold prices were poised for a fifth week of gains as investors flocked to the bullion amid the tensions, while copper prices hit their highest in nearly two years. [GOLD/] [MET/L]

Materials shares could outperform their sectoral peers this week on strength from metal miners.

Oil prices steadied after an earlier spike on reports of the attack, as market fears of a major escalation in hostilities in the region appeared to ease and build-up of global oil stocks weighed. [O/R]

The Toronto Stock Exchange’s S&P/TSX composite index ended 0.2% higher on Thursday, as metal prices boosted the materials sector. [.TO]

The TSP, snapped its recent losing streak on Wednesday but is set for a weekly decline.

In corporate news, brokerage Scotia resumed its coverage of construction supplies provider ADENOMA with “sector outperform” rating.

Earnings in the U.S. are picking up more momentum after streaming giant Netflix gave a revenue forecast below analysts’ estimates, and big tech companies due to report their quarterly figures in the next week.

COMMODITIES AT 6:52 a.m. ET

Gold futures: $2,383; -0.1% [GOLD/]

US crude: $82.28; -0.5% [O/R]

Brent crude: $86.58; -0.6% [O/R]

(Reporting by Purvi Agarwal in Bengaluru; Editing by Ravi Prakash Kumar)

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(Reuters) – Futures for Canada’s main stock index were muted on Thursday as gains in metal prices were offset by declines in oil, while investors awaited fresh cues on the timing of interest rate cuts by central banks.

June futures on the S&P/TSX index were up 0.1% at 6:40 a.m. ET (10:40 GMT).

Spot gold prices climbed as risks of a widening Middle East conflict raised its safe-haven appeal, overshadowing pressures from prospects of higher-for-longer U.S. interest rates. [GOL/]

London copper hit its highest in 22 months, supported by a softer dollar. [MET/L]

On the other hand, oil prices extended losses as investors switched focus to signs that a wider conflict in the key Middle East could be avoided, as well as demand concerns. [O/R]

Meanwhile, investors awaited fresh clues to gauge when the central banks’ would commence their easing cycle, both at home and in the United States.

Data-wise, a weekly reading of jobless claims is due in the U.S. at 8:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index ended 0.1% higher on Wednesday, snapping a five-session losing streak, lifted by mining stocks. [.TO]

Gains on the index were contained after the Canadian federal budget proposed raising a tax on investment profits, with the measure coming into effect in June.

In corporate news, TC Energy said on Wednesday it does not anticipate any service interruptions from the rupture of its NGTL gas pipeline in Alberta, which caused a wildfire on Tuesday.

In the U.S., corporate earnings momentum continues with several regional financial institutions set to report their quarterly numbers before the opening bell.

COMMODITIES AT 6:40 a.m. ET

Gold futures: $2,384.7; +0.4% [GOL/]

US crude: $81.84; -1.0% [O/R]

Brent crude: $86.34; -1.1% [O/R]

(Reporting by Purvi Agarwal in Bengaluru; Editing by Ravi Prakash Kumar)

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(Reuters) – Canada’s main stock index opened higher on Wednesday, pulled up by materials and tech stocks tracking higher prices of precious metals, while investors awaited fresh cues on the timing of interest rate cuts by central banks.

At 9:30 a.m. ET (13:30 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 58.18 points, or 0.27%, at 21,701.05.

(Reporting by Purvi Agarwal in Bengaluru; Editing by Ravi Prakash Kumar)

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(Reuters) – Futures for Canada’s main stock index tumbled on Tuesday as oil and metal prices ticked lower, with investors wary ahead of a key domestic inflation reading and ongoing Middle East tensions.

June futures on the S&P/TSX index were down 0.7% at 6:43 a.m. ET (10:43 GMT), mirroring losses in their Wall Street counterparts. [.N]

Energy shares could see another session of decline as oil edged lower after easing supply concern and escalating Middle East tensions offset data showing faster than expected growth in China’s economy. [O/R]

Spot gold prices also fell amid high U.S. Treasury yields, while most non-ferrous metals dipped on a stronger dollar and disappointing economic data from China. [GOL/] [MET/L]

A monthly reading of the consumer prices index (CPI) in Canada is on the radar, which will have investors adjusting their bets on the timing of interest rate cuts by the Bank of Canada in the year.

The dataset follows BoC Governor Tiff Macklem’s hint that the central bank was open to commencing the easing cycle in June if the recent cooling trend in inflation was sustained.

The Toronto Stock Exchange’s S&P/TSX composite index ended 0.7% lower on Monday, its lowest closing level in over a month. [.TO]

The sell-off was driven by climbing long-term borrowing costs and investor worry that the country’s federal budget, due on Tuesday at 4:00 p.m. EDT, would propose raising taxes and re-apportion money.

On the corporate front, Tamarack Valley Energy temporarily shut its oil output production following a fire at a Canadian Natural Resources Ltd gas plant in Alberta, the companies said on Monday.

Meanwhile, in the U.S., Bank of America’s first-quarter profit fell as the lender earned less from customer interest payments.

COMMODITIES AT 6:43 a.m. ET

Gold futures: $2,374.3; +0.1% [GOL/]

US crude: $85.21; -0.2% [O/R]

Brent crude: $89.93; -0.2% [O/R]

(Reporting by Purvi Agarwal in Bengaluru; Editing by Ravi Prakash Kumar)

STORY CONTINUES BELOW THESE SALTWIRE VIDEOS

(Reuters) – Futures for Canada’s main stock index inched up on Monday, supported by rising gold prices, after it logged its worst day in nearly two months in the previous session.

June futures on the S&P/TSX index were up 0.2% at 6:43 a.m. ET (10:43 GMT), mirroring gains in their Wall Street peers. [.N]

The Toronto Stock Exchange’s S&P/TSX composite index fell 0.95% on Friday, in its biggest decline since February, as investors took stock of recent gains and the risk of a wider conflict in the Middle East. [.TO]

The index posted a weekly decline of 1.6%, snapping its eight-week winning streak after hotter-than-expected inflation data threw cold water on hopes that the Federal Reserve would begin cutting interest rates as early as June.

Commodity-wise, spot gold prices hovered near record-high levels on Monday, as traders monitored developments surrounding the Middle East conflict, prompting safe-haven buying of assets, while copper prices drifted higher. [GOL/] [MET/L]

Meanwhile, oil prices slipped about 1%, with the market downplaying the risk of broader regional conflagration after Iran’s attack on Israel. [O/R]

On the data front, a March reading of retail sales, due in the U.S. at 8:30 a.m. ET, could provide some insight on the state of consumer spending in the economy.

Across the border, big banks kickstarted another earnings season on Friday. Goldman Sachs and brokerage Charles Schwab are due to report their quarterly figures before the bell on Monday.

In Canadian corporate news, proxy advisory firms ISS and Glass Lewis have recommended investors in Canada’s Rogers Communications to vote against reappointing Chairman Edward Rogers due to lack of enough women on the company’s board, Bloomberg News reported on Friday.

COMMODITIES AT 6:43 a.m. ET

Gold futures: $2,354; -0.3% [GOL/]

US crude: $84.9; -0.9% [O/R]

Brent crude: $89.74; -0.8% [O/R]

(Reporting by Purvi Agarwal in Bengaluru; Editing by Ravi Prakash Kumar)

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(Reuters) – Canada’s stock index futures rose on Friday, lifted by surging commodity prices, as investors cautiously track big bank earnings in the U.S., which will kick off the corporate earnings season.

June futures on the S&P/TSX index were up 0.4% at 6:40 a.m. ET (10:40 GMT).

Gold prices hit a record peak as geopolitical risks and economic concerns surrounding China attracted robust demand, while copper prices continued their upward march. [GOL/] [MET/L]

Energy shares could see a rebound as heightened tensions in the Middle East raised the risk of supply disruptions and boosted oil prices. [O/R]

The Toronto Stock Exchange’s S&P/TSX composite index closed 0.4% lower on Thursday, after touching its lowest intraday level since March-end. [.TO]

The index is set to log a weekly decline as a hot inflation reading in the U.S. dampened hopes of a June rate cut, and the Bank of Canada held its rates steady on Wednesday.

Investors will monitor the crucial consumer prices index (CPI) reading in Canada next week, after BoC Governor Tiff Macklem hinted the central bank was open to a June cut if the recent cooling trend in inflation was sustained.

Across the border, another season of corporate earnings commenced in the U.S., with JPMorgan Chase & Co reporting a higher first-quarter profit, while Wells Fargo & Co’s profit fell more than 7%.

In Canadian corporate news, Brookfield Asset Management is in advanced talks to acquire a majority stake in private credit manager Castlelake with an investment of more than $1.5 billion, the Financial Times reported on Thursday.

COMMODITIES AT 6:40 a.m. ET

Gold futures: $2,404.9; +1.9% [GOL/]

US crude: $86.17; +1.4% [O/R]

Brent crude: $90.81; +1.2% [O/R]

(Reporting by Purvi Agarwal in Bengaluru; Editing by Ravi Prakash Kumar)