Canada Stocks: TSX futures fall as crude prices dip on US-China trade conflict

TMX

04/02/2025 11:38

Feb 4 (Reuters) - Futures for Canada's main stock index
declined on Tuesday as oil prices fell after an escalating trade
war between the U.S. and China, overshadowing Ottawa's temporary
relief from President Donald Trump's tariffs.
    March futures on the S&P/TSX index  SXFcv1  were down 0.36%
at 6:26 a.m. ET (1126 GMT).
    Oil prices  LCOc1 ,  CLc1  fell over 1% after China
retaliated with tariffs on the U.S.  O/R  
    U.S. levies on China came into effect at 12:01 a.m. ET on
Tuesday (0501 GMT), while Beijing's trade duties on Washington
will start on Feb. 1.
    U.S. stock index futures also edged down on Tuesday after
China's tariffs.  .N 
    Gold prices  XAU=  remained steady on Tuesday after a record
rally in the previous session driven by safe-haven demand.
    Meanwhile, copper prices edged higher following a sharp
pullback, but gains were limited due to the trade tensions.
 GOL/  MET/L 
    On Monday, domestic investors were relieved after Trump
suspended steep tariffs on Mexico and Canada, agreeing to a
30-day pause in exchange for concessions on border and crime
enforcement with the two neighboring countries. 
    The deal temporarily averted a trade war that economists
warned could harm all involved economies and lead to higher
consumer prices.
    On Monday, the Toronto Stock Exchange's S&P/TSX composite
index  .GSPTSE  fell 1.1% but partly recovered from initial
steeper losses, as investors considered the pause in U.S.
tariffs.
    In corporate news, financial services company TMX GROUP
 X.TO  on Tuesday reported fourth-quarter profit and revenue
above estimates. 
 
    
    

    
    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;))