financetom
World
financetom
/
World
/
CANADA STOCKS-TSX futures fall ahead of BoC rate decision
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
CANADA STOCKS-TSX futures fall ahead of BoC rate decision
Jul 24, 2024 4:51 AM

July 24 (Reuters) - Futures linked to Canada's main

stock index fell on Wednesday ahead of the Bank of Canada's

interest-rate decision due later in the day, while miner Teck

Resources ( TECK ) beat second-quarter profit estimates.

The S&P/TSX 60 futures were down 0.27% as of 06:59

a.m. ET (1059 GMT).

Investors will be focussed on the BoC's monetary policy

meeting at 9:45 a.m. ET. Given the decline in inflation in June,

the Canadian central bank is widely expected to trim the rates

one more time.

Money markets see an 87.7% chance of a rate cut at

Wednesday's meeting and anticipate one more cut later this year.

The Toronto Stock Exchange's materials sector would be in

focus as copper prices hovered around a three-and-a-half month

low amid demand worries in China.

Gold prices inched higher as investors awaited U.S.

manufacturing data from S&P Global that could influence the

timeline of the Federal Reserve's rate-cut decisions.

The energy sector was set to rebound as oil prices snapped

three straight sessions of decline.

Across the border, Wall Street futures fell as quarterly

earnings from Tesla and Alphabet failed to impress investors.

In corporate news, Canadian miner Teck Resources ( TECK )

beat second-quarter profit estimates, helped by higher

production of copper at its Quebrada Blanca mine in Chile and an

increase in copper prices.

COMMODITIES

Gold: $2413.50; +0.18%

US crude: $77.58; +0.81%

Brent crude: $81.57; +0.69%

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 = 1.3791 Canadian dollars)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved