Canada Stocks: TSX futures slip on receding commodity prices

Solaris Resources

17/06/2024 12:47

June 17 (Reuters) - Futures linked to Canada's main
stock index fell on Monday, weighed down by declining commodity
prices, while uncertainty set in among investors as they awaited
U.S. data and comments from Federal Reserve officials scheduled
this week.
    S&P/TSX futures  SXFcv1  dipped 0.36% by 6:37 a.m. ET (1037
GMT).
    Wall Street futures were flat, after five straight
record-high sessions on Nasdaq last week on gains in technology
stocks.  .N 
    Oil prices marginally slipped  LCOc1   CLc1  after downbeat
economic data in China offset hopes for a boost in demand from
the summer driving season in the northern hemisphere.  O/R 
    Gold  XAU=  and silver  XAG=  prices declined against a firm
dollar ahead of U.S. economic numbers and comments from Fed
officials clarifying the rate-cut timeline.  GOL/ 
        The 
    Bank of Canada
     said earlier this month it can make more rate cuts if
inflation continues to ease. The BoC has also 
    noted
     it can diverge from the U.S. Fed, which it traditionally
tracks, in terms of monetary policy.
  
    On Friday, the resource-heavy S&P/TSX composite index
 .GSPTSE  dropped 0.3% to a three-month low, while traders
favoured technology shares over the financial and energy sector.
    Investors will now be looking at Canadian housing starts
data scheduled for release at 08:15 a.m. ET.
    In corporate news, Solaris Resources  SLS.TO  filed for
mixed shelf offering of up to $200 million, as per regulatory
filings.
            
    COMMODITIES AT 6:58 a.m. ET
    Gold futures  GCc2 : $2323.3; -0.59%  GOL/ 
    US crude  CLc1 : $78.32; -0.17%  O/R 
    Brent crude  LCOc1 : $82.51; -0.13%  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 = 1.3742 Canadian dollars)

 (Reporting by Nikhil Sharma in Bengaluru; Editing by Shreya
Biswas)
 ((Nikhil.Sharma@thomsonreuters.com;))