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CANADA STOCKS-TSX futures edge down ahead of Fed minutes
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CANADA STOCKS-TSX futures edge down ahead of Fed minutes
Oct 10, 2024 9:58 PM

Oct 9 (Reuters) - Futures for Canada's main stock index

inched lower on Wednesday as cautious investors awaited minutes

of the U.S. Federal Reserve's last meeting, while weak metal

prices weighed on the market.

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

0.1% at 6:03 a.m. ET (10:03 GMT).

Minutes from the Fed's September meeting are due later in

the day, and investors are expected to look for insights into

the interest-rate path.

Focus is also on U.S. consumer price index data,

expected on Thursday, to infer central bank's policy outlook.

Odds for a 25-basis-point-cut at the U.S. Fed's November

policy meeting stand at 88%.

Domestic investors also await Canada's unemployment data,

due on Friday, as it could provide clues about the Bank of

Canada's interest rate path at its policy meeting later in the

month.

The materials sector could track gold prices, which dipped

against a stronger dollar, and copper prices that fell over

China's failure to detail new stimulus measures to boost the top

metals consumer's economy.

Canada's energy sector could rebound, tracking higher oil

prices as markets remained wary of escalating tensions in the

Middle East that could disrupt supply from the region.

Markets also await quarterly earnings from the major U.S.

banks on Friday.

In corporate news, Japan's Seven & I Holdings ( SVNDF )

received a revised takeover bid of around $47 billion from

Canada's Alimentation Couche-Tard ( ANCTF ), compared with $38.5

billion earlier.

COMMODITIES

Gold: $2,618.1; -0.15%

US crude: $74.26; +0.9%

Brent crude: $77.85; +0.9%

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 = 1.3665 Canadian dollars)

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