April 25 (Reuters) - Futures for Canada's main stock
index edged lower on Thursday, weighed down by downbeat
corporate earnings from Canadian companies and in the United
States, while losses were offset by an uptick in gold and oil
prices.
June futures on the S&P/TSX index were down 0.2% at
6:43 a.m. ET (10:43 GMT).
The Toronto Stock Exchange's S&P/TSX composite index
ended 0.6% lower on Wednesday, logging its first
decline in six sessions, dragged down by railroad shares after
their disappointing quarterly results.
Canadian miner Teck Resources ( TECK ) missed
first-quarter profit estimates on Thursday, pulled down partly
by lacklustre steelmaking coal sales volumes and lower zinc
prices.
U.S. stock index futures also fell on Thursday, as shares of
most mega-cap growth stocks took a beating after dour quarterly
results from Meta Platforms ( META ).
On the commodities front, Oil prices steadied as signs of
retreating fuel demand in the U.S., the world's biggest oil
user, contended with widening conflict risks in the Middle East.
Spot gold prices were buoyed by a weaker dollar,
while copper prices also gained as funds chased the market
higher after a takeover bid by BHP for Anglo American, which
analysts said was focused on copper.
Data-wise, a quarterly report of gross domestic product
(GDP) advance and weekly jobless claims figures are due in the
U.S. at 8:30 a.m. ET.
Investors will closely monitor the personal consumption
expenditure (PCE) data in the U.S., due on Friday, which is the
Federal Reserve's preferred measure of inflation, to adjust
their bets on the timing of interest rate cuts in the year.
Separately, the minutes from the Bank of Canada's last
meeting showed that the six-member governing council of the
central bank was split on the timing of the cuts but agreed that
the borrowing costs would most likely only come down gradually.
COMMODITIES AT 6:43 a.m. ET
Gold futures: $2,325.6; flat
US crude: $82.85; +0.1%
Brent crude: $88.07; +0.1%