Canada Stocks: TSX futures rise as investors assess Wall Street earnings

Methanex

30/01/2025 11:44

Jan 30 (Reuters) - Futures for Canada's main stock index
rose on Thursday, supported by gains in metal prices, while
investors digested earnings from some of the big tech megacaps
on Wall Street.
     March futures on the S&P/TSX index  SXFcv1  were up 0.64%
at 6.19 a.m. ET (1119 GMT).
    U.S. stock index futures also advanced on Thursday.  .N 
    In commodities, gold prices  XAU=  edged higher on Thursday
due to a softer dollar, while copper and aluminum prices also
increased. GOL/  MET/L 
     But oil prices  LCOc1 ,  CLc1  slipped for a second
consecutive day after U.S. crude stockpiles rose more than
anticipated. O/R 
    Earnings reports from some of the so-called "Magnificent
Seven" megacap tech stocks were released after the bell on
Wednesday.
    Microsoft  MSFT.O  beat quarterly revenue estimates, while
Tesla's  TSLA.O  fourth-quarter profit margin missed
expectations. Meta  META.O  forecast first-quarter revenue below
market estimates.
    The Toronto Stock Exchange's S&P/TSX composite index reached
a seven-week high on Wednesday, buoyed by the U.S. Federal
Reserve's indication of robust economic activity and the Bank of
Canada's interest rate cut to support the domestic economy
amidst expected U.S. trade tariffs.
    U.S. President Donald Trump's nominee for Commerce
Secretary, Howard Lutnick, stated on Wednesday that Canada and
Mexico could avoid upcoming U.S. tariffs by swiftly closing
their borders to fentanyl.
    Canada's Foreign Minister Melanie Joly, who is visiting
Washington to help ease tensions, said Lutnick's "comments
regarding the fact that we were addressing the border issue and
fentanyl were positive." 
    On Tuesday, the White House reaffirmed Trump's plan to
impose tariffs on Mexico and Canada on Saturday.    
    In domestic corporate news, methanol supplier Methanex
 MX.TO  beat fourth-quarter profit estimates on Wednesday.
 

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