Canada Stocks: TSX futures subdued ahead of Nvidia's results
28/08/2024 11:58
Aug 28 (Reuters) - Futures linked to Canada's main stock
index were slightly down on Wednesday, as investors remained on
the sidelines while they assessed domestic lenders' results and
awaited Nvidia's quarterly earnings.
September futures on the S&P/TSX index SXFcv1 were down
0.1% at 6:54 a.m. ET (10:54 GMT).
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE ended lower on Tuesday as declines in oil prices
weighed on the energy sector.
The sector once again was set to grab focus on Wednesday as
oil prices continued to edge lower on fragile demand worries in
China and elevated risks of a broader slowdown. O/R
The materials sector might come under pressure as gold and
copper prices declined, with investors awaiting a key U.S.
inflation report due this week and a firm dollar adding to the
strain. GOL/ MET/L
The investor will closely watch the Personal Consumption
Expenditure data on Friday to infer the magnitude of the
imminent U.S. rate cuts.
After mixed quarterly results from major Canadian lenders on
Tuesday, investors assessed earnings from the Royal Bank of
Canada RY.TO and the National Bank of Canada NA.TO , both of
which reported higher third-quarter profits on Wednesday.
The spotlight will remain on the quarterly earnings of
Nvidia NVDA.O expected later today, with investors
anticipating blockbuster results from the chipmaker, as even a
slight miss could hurt the broader AI-driven equity rally on
Wall Street.
In corporate news, Canadian energy firm Pieridae Energy
Limited PEA.TO announced equity rights offering of $30
million, along with a standby offering of $25 million.
COMMODITIES
Gold XUA= : $2,505.6; -0.7% GOL/
US crude CLc1 : $74.11; -1.9% O/R
Brent crude LCOc1 : $78.18; -1.7% O/R
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/ CA/
Reuters global stocks poll for Canada EQUITYPOLL1
EPOLL/CA
Canadian markets directory CANADA
($1 = 1.3462 Canadian dollars)
(Reporting by Nikhil Sharma in Bengaluru; Editing by Vijay
Kishore)
((Nikhil.Sharma@thomsonreuters.com;))