Author: Reuters Inc.

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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)

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(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)

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(Reuters) – Futures for Canada’s main stock index edged higher on Wednesday, ahead of the Bank of Canada’s next monetary policy decision and a key inflation reading in the United States, while a step-up in oil prices further lifted sentiment.

June futures on the S&P/TSX index were up 0.4% at 6:57 a.m. ET (10:57 GMT), mirroring gains in their Wall Street peers. [.N]

The Bank of Canada’s next decision on interest rates is due at 9:45 a.m. ET on Wednesday, where the central bank is widely expected to hold rates at a 22-year high of 5%.

In the run-up to the decision, the last pivotal dataset showed on Friday that Canadian unemployment was at a 26-month high of 6.1% in March, cementing hopes for a rate cut in June.

Money market participants are pricing in a little over 72% bets of a cut in June. [0#BOCWATCH]

Across the border, a March reading of the consumer prices index (CPI) is due in the United States at 8:30 a.m. ET, which will have investors adjusting their bets on when the Federal Reserve could begin easing of borrowing costs this year.

Also due later in the day are the minutes from the U.S. central bank’s last monetary policy meeting.

On the commodities front, oil prices rebounded as a deadlock in Gaza ceasefire talks renewed uncertainty about supply security from the Middle East. [O/R]

Gold prices steadied near record highs on increased demand for the safe-haven metal while copper prices continued their upward march. [GOL/] [MET/L]

The Toronto Stock Exchange’s S&P/TSX composite index ended 0.5% higher on Tuesday, eclipsing the previous record closing high set on Friday, lifted by metal miners. [.TO]

In Canadian corporate news, the National Bank of Canada initiated coverage of Hammond Power Solutions with a “sector perform” rating.

COMMODITIES AT 6:57 a.m. ET

Gold futures: $2,354.9; +0.2% [GOL/]

US crude: $85.64; +0.5% [O/R]

Brent crude: $89.84; +0.5% [O/R]

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