Canada Stocks: TSX futures tepid ahead of Big Tech earnings, Fed decision

Metro

30/01/2024 12:54

Jan 30 (Reuters) - Futures for Canada's main stock index
were subdued on Tuesday ahead of earnings updates from Big Tech
companies in the United States, domestic GDP data and the
Federal Reserve's interest rate decision later this week.
    March futures on the S&P/TSX index  SXFcv1  were down 0.2%
at 7:14 a.m. ET (12:14 GMT).
    Futures on Wall Street's main indexes were also muted ahead
of crucial jobs report.  .N 
    The materials sector is expected to gain as gold prices
ticked up on a weaker dollar and lower Treasury yields, while
copper edged higher on hopes of more economic support from
China.  GOL/   MET/L 
    The U.S. Labor Department's job openings data, due at 10
a.m. ET, could provide some insight on the state of the American
labor market and the Fed's direction on interest rate cuts. The
U.S. central bank is scheduled to meet on Wednesday.
    Investors will also monitor the quarterly earnings of
Microsoft  MSFT.O  and Alphabet  GOOGL.O  later in the day.
Apple  AAPL.O , Amazon.com  AMZN.O  and Meta  META.O  report
their results on Thursday.
    Among domestic stocks, pharmacy retailer Metro  MRU.TO  and
freight railroad operator Canadian Pacific Railway  CP.TO  are
slated to report their quarterly earnings later in the day.
    The Toronto Stock Exchange's S&P/TSX composite index
 .GSPTSE  ended 0.4% higher on Monday. It rose to a new 20-month
high, helped by gains in the technology and utilities sectors.
 .TO 
    Copper miner Lundin Mining Corp  LUN.TO  said its
fourth-quarter revenue was expected to be negatively impacted by
lower metal prices. 
    Electronics company Celestica  CLS.TO  reported
fourth-quarter results that beat analysts' estimates.
    
    COMMODITIES AT 7:14 a.m. ET
    Gold futures  GCc2 : $2,042.6; +0.4%  GOL/ 
    US crude  CLc1 : $76.63; -0.2%  O/R 
    Brent crude  LCOc1 : $82.16; -0.3%  O/R 

 (Reporting by Purvi Agarwal in Bengaluru; Editing by Vijay
Kishore)
 ((Purvi.Agarwal@thomsonreuters.com))