Canada Stocks: TSX futures rise amid renewed rate cut bets

Canada Goose Holdings

16/05/2024 13:03

May 16 (Reuters) - Futures for Canada's main stock index
edged upwards on Thursday, as markets remained optimistic after
rate cut bets strengthened following softer-than-expected U.S.
inflation data.
    June futures on the S&P/TSX index  SXFcv1  were up 0.3% at
7:15 a.m. ET (1115 GMT).
    Global markets moved higher, tracking Wall Street's rally to
new record highs on Wednesday after data showed U.S. consumer
prices increased less than expected in April, increasing bets
among traders that the U.S. Federal Reserve will cut rates in
September.
    The focal point later in the day will be weekly American
jobless claims for further evidence the labour market is also
cooling down.
    Meanwhile, the materials  .GSPTTMT  index could see a rise,
buoyed by higher base metal prices amid a softer dollar.
    The energy  .SPTTEN  index, however, is expected to slip at
open, tracking lower crude prices. 
    The Toronto Stock Exchange's S&P/TSX composite index
 .GSPTSE  ended up 41.42 points, or 0.2%, at 22,284.76, on
Wednesday, snapping a three-day run of declines.  .TO 
    Dow e-minis  1YMcv1  were up 32 points, or 0.08% at 7:15
a.m. ET, while S&P 500 e-minis  EScv1  were up 4.5 points, or
0.08% and Nasdaq 100 e-minis  NQcv1  were up 28 points, or
0.15%.  .N 
    In corporate news, Canada Goose  GOOS.TO  beat market
expectations for quarterly revenue, backed by a strong recovery
in demand for its pricey puffer jackets in China. The U.S.
listed shares of the luxury apparel group  GOOS.N  climbed over
9% premarket. 
    
    COMMODITIES AT 7:15 a.m. ET
    Gold futures  GCc2 : $2,389.1; -0.2%  GOL/ 
    US crude  CLc1 : $78.54; -0.1%  O/R 
    Brent crude  LCOc1 : $82.65; -0.1%  O/R 
 
 ($1= C$1.363)

 (Reporting by Khushi Singh in Bengaluru; Editing by Vijay
Kishore)
 ((Khushi.Singh@thomsonreuters.com;))