Canada Stocks: TSX futures rise as global tech rout subsides

HIVE Digital Technologies

28/01/2025 12:11

Jan 28 (Reuters) - Futures tied to Canada's main stock
index edged higher on Tuesday as selling pressures eased after
the previous session's tech-driven fall in global equity
markets.
    March futures on the S&P/TSX index  SXFcv1  were up 0.15% at
6.37 a.m. ET (1137 GMT).
    On Monday, the Toronto Stock Exchange's S&P/TSX composite
index  .GSPTSE  gave back some of its impressive gains for the
year as investors sold off shares in technology companies.
    The decline was triggered by a low-cost Chinese artificial
intelligence model, which raised doubts about the dominance of
current AI leaders and their suppliers.
    In commodities, gold  XAU=  prices remained steady on
Tuesday after a sharp decline in the previous session.  GOL/ 
    Oil prices  LCOc ,  CLc1  rose slightly but stayed near a
two-week low, as weak economic data from China and rising
temperatures elsewhere dampened the demand outlook.  O/R 
    Investor attention will shift to interest rate decisions
from the Bank of Canada and the U.S. Federal Reserve on
Wednesday.
    The Canadian central bank is anticipated to cut rates by an
additional 25 basis points, while the U.S. Fed is expected to
keep rates unchanged.
    Analysts will also pay close attention to policymakers'
commentary as they navigate the risks associated with potential
U.S. trade tariffs.
     U.S. President Donald Trump's pick for Treasury secretary,
Scott Bessent, has been pushing for new universal tariffs on
U.S. imports, starting at 2.5% and increasing by the same amount
each month, a media report said on Monday.
    In corporate news, Bitfarms  BITF.TO , a bitcoin data center
company, signed a binding Letter of Intent for the sale of its
Yguazu and Paraguay sites with cryptocurrency mining company
Hive Digital Technologies  HIVE.V .
    
    
    
    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 
 

 (Reporting by Ragini Mathur; Editing by Sahal Muhammed)
 ((Ragini.Mathur@thomsonreuters.com;))