May 22 (Reuters) - Futures for Canada's main stock index
eased on Wednesday, pressured by lower prices of most
commodities, while investors awaited minutes of the U.S. Federal
Reserve's last policy meeting for clues on the timing of its
monetary policy easing.
June futures on the S&P/TSX index were down 0.2% at
6:05 a.m. ET (10:05 GMT).
The materials index, which led gains in the
previous session, could slip as prices of most base and precious
metals fell.
Copper prices fell on softening physical demand and higher
inventories in top consumer China, while gold prices slipped as
investors strapped in for minutes from the Fed's April 30- May 1
policy meeting for further insights on the timeline for interest
rate cuts.
The energy index could also inch downwards on
lower crude prices over expectations of higher-for-longer U.S.
interest rates, potentially impacting fuel use in the world's
largest consumer.
Meanwhile, investors also look forward to the long-awaited
earnings report and accompanying commentary from AI bellwether
Nvidia ( NVDA ), due later in the day.
The Toronto Stock Exchange's S&P/TSX composite index
ended higher on Tuesday, recording fresh all-time
highs on strength from commodity-linked stocks.
Dow e-minis were down 34 points, or 0.08% at 6:04
a.m. ET, while S&P 500 e-minis were down 7 points, or
0.13% and Nasdaq 100 e-minis were down 19.25 points, or
0.1%.
In company news, Power Corporation of Canada ( PWCDF ) has
shut its China investment unit and dismissed all staff, becoming
the latest Western financial firm to pull back amid the
country's economic challenges.
Copper miner Hudbay Minerals ( HBM ) plans to raise $300.2
million in an equity offering to help fund near-term growth
initiatives at its Copper Mountain unit, among other purposes.
COMMODITIES AT 6:04 a.m. ET
Gold futures: $2,419.8; -0.3%
US crude: $78.08; -0.7%
Brent crude: $82.34; -0.7%
($1= C$1.3652)