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CANADA STOCKS-TSX futures subdued ahead of Nvidia's results
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CANADA STOCKS-TSX futures subdued ahead of Nvidia's results
Aug 29, 2024 9:16 AM

Aug 28 (Reuters) - Futures linked to Canada's main stock

index were slightly down on Wednesday, as investors remained on

the sidelines while they assessed domestic lenders' results and

awaited Nvidia's ( NVDA ) quarterly earnings.

September futures on the S&P/TSX index were down

0.1% at 6:54 a.m. ET (10:54 GMT).

The Toronto Stock Exchange's S&P/TSX composite index

ended lower on Tuesday as declines in oil prices

weighed on the energy sector.

The sector once again was set to grab focus on Wednesday as

oil prices continued to edge lower on fragile demand worries in

China and elevated risks of a broader slowdown.

The materials sector might come under pressure as gold and

copper prices declined, with investors awaiting a key U.S.

inflation report due this week and a firm dollar adding to the

strain.

The investor will closely watch the Personal Consumption

Expenditure data on Friday to infer the magnitude of the

imminent U.S. rate cuts.

After mixed quarterly results from major Canadian lenders on

Tuesday, investors assessed earnings from the Royal Bank of

Canada ( RY ) and the National Bank of Canada ( NTIOF ), both of

which reported higher third-quarter profits on Wednesday.

The spotlight will remain on the quarterly earnings of

Nvidia ( NVDA ) expected later today, with investors

anticipating blockbuster results from the chipmaker, as even a

slight miss could hurt the broader AI-driven equity rally on

Wall Street.

In corporate news, Canadian energy firm Pieridae Energy

Limited ( PTOAF ) announced equity rights offering of $30

million, along with a standby offering of $25 million.

COMMODITIES

Gold: $2,505.6; -0.7%

US crude: $74.11; -1.9%

Brent crude: $78.18; -1.7%

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

($1 = 1.3462 Canadian dollars)

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