Sept 25 (Reuters) - Futures tied to Canada's
resource-heavy main stock index edged down on Wednesday tracking
lower oil prices as analysts flagged concerns that China's
stimulus may not be sufficient to immediately boost domestic
demand.
December futures on the S&P/TSX index were down
0.2% at 6:13 a.m. ET (10:13 GMT).
China unveiled its bumper stimulus package on Tuesday to
revive its struggling economy from a deflationary slump,
boosting stocks markets globally.
Canada's composite index closed at a record high
for the fourth straight session on Tuesday, benefiting from a
surge in energy and mining shares.
However, analysts remained skeptical about whether it would
provide an immediate boost to the Chinese economy, given weak
credit demand from businesses and consumers.
Oil prices fell after Tuesday's climb and could weigh on
Canada's heavyweight energy stocks.
The materials sector could track gold prices, which pared
gains after hitting a record high earlier in the day, while
copper prices declined as investors booked profits after
previous session's rally.
In the U.S., Wall Street futures slipped on Wednesday as
investors awaited more clues on the health of the economy and
the outlook for interest rate cuts.
With already one rate cut at hand, investors are pricing in
a 59.1% chance of another 50-basis point trim at the U.S.
Federal Reserve's next policy in November.
Markets will also assess comments from Fed Chair Jerome
Powell and personal consumption expenditures data - the central
bank's preferred inflation measure - scheduled later in the
week.
In corporate news, Canadian investment trust Middlefield
Global Real Asset Fund said its unitholders approved
its merger with mutual fund Real Estate Split Corp.
COMMODITIES
Gold: $2,655.8; -0.02%
US crude: $71.1; -0.6%
Brent crude: $74.73; -0.6%
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($1 = 1.3439 Canadian dollars)