April 2 (Reuters) - Futures for Canada's main stock
index were muted on Tuesday as investors took a breather after
the index notched record closing highs in the past three
sessions while an upward trend in commodity prices kept declines
in check.
June futures on the S&P/TSX index were flat at 7:01
a.m. ET (11:01 GMT).
Across the border, U.S. stock futures dipped, hurt by sharp
losses in shares of health insurers, while investors awaited
economic data and comments from Federal Reserve officials for
hints on the timing of interest rate cuts.
Monthly readings of factory orders and job openings in the
U.S. are due at 10:00 a.m. ET and could provide some insight
into the health of the American economy and guide expectations
for interest rate cuts later in the year.
Investors will also monitor comments from Fed speakers later
in the day.
In commodities news, Spot gold prices hit a fresh
record high on demand from momentum-following funds while copper
ticked higher, lifted by concerns of tighter raw material
supply, a production cut and an upbeat demand outlook in China.
Global oil benchmark Brent rose above $88 a barrel for the
first time since October as oil supplies faced fresh threats
with escalating geopolitical tensions globally.
Materials-linked shares and the energy sector are poised to
extend their rallies to a fourth session.
The Toronto Stock Exchange's S&P/TSX composite index
ended 0.1% higher on Monday, at 22,185.25, eclipsing
Friday's record high close, pushed by resource shares.
In corporate news, cannabis firms are on the radar after the
Florida Supreme Court allowed voters to decide on the fate of
recreational use of marijuana in the U.S. state through a
referendum in November.
U.S.-listed shares of Canopy Growth Corp ( CGC )
and Aurora Cannabis ( ACB ) gained about 6% in
premarket trading.
COMMODITIES AT 7:01 a.m. ET
Gold futures: $2,272.1; +1.2%
US crude: $85.29; +1.9%
Brent crude: $88.92; +1.7%