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CANADA STOCKS-TSX futures fall as investors pause after week's rally
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CANADA STOCKS-TSX futures fall as investors pause after week's rally
Sep 20, 2024 4:27 AM

Sept 20 (Reuters) - Futures linked to Canada's main

stock index fell on Friday, mirroring its Wall Street peers as

investors paused after markets gained over the week due to U.S.

interest rate cut.

The futures on the S&P/TSX index were down 0.3% at

6:01 a.m. ET (10:01 GMT).

U.S. stock index futures were lower on Friday, with all

three main indexes taking a breather from the previous session's

rally that was fueled by the Federal Reserve's 50-basis point

interest rate cut

.

Canada's composite index also hit an all-time high

on Thursday and were up 1.2% so far this week.

The country's energy sector stocks could track lower oil

prices. But the commodity is still on track for its second

straight weekly gains following the U.S. rate cut and declining

global stockpiles.

However, the materials sector is likely to be lifted by

higher gold prices, which hit a record high over prospects of

more U.S. rate cuts. Copper prices also hovered around a

two-month high.

Investors will monitor the Bank of Canada Governor Tiff

Macklem's speech at 8:30 a.m. ET to get more clues on the

central bank's monetary policy outlook.

The Bank of Canada has already reduced its policy rates

three times this year and the recent Fed cut could prompt

domestic policymakers to speed up its easing cycle.

In corporate news, Orex Minerals ( ORMNF ) announced the

appointment of John Eren as chief executive officer and member

of the board of directors, effective immediately.

COMMODITIES

Gold: $2,606.84; +0.79%

US crude: $71.85; -0.1%

Brent crude: $74.71; -0.2%

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 = 1.3567 Canadian dollars)

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