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CANADA STOCKS-TSX futures flat after report on Trump's plan for new tariffs
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CANADA STOCKS-TSX futures flat after report on Trump's plan for new tariffs
Jan 8, 2025 4:58 AM

Jan 8 (Reuters) - Futures tied to Canada's main stock

index struggled to find direction on Wednesday, after a report

said U.S. President-elect Donald Trump was considering declaring

a national economic emergency to allow for a new tariff program.

March futures on the S&P/TSX index were down 0.07%

as of 6:55 a.m. ET (1155 GMT).

U.S. stock index futures fell on Wednesday following the CNN

report.

Market participants remain concerned whether Trump, set to

take office on Jan. 20, would go through with his rhetoric of

imposing a 25% tariff on imports from Canada.

Canada sends a majority of its exports to the U.S.,

including energy products.

Gold prices edged higher in the day due to risks

stemming from Trump's tariff plans, while copper made modest

gains.

Oil prices gained as supplies from Russia

and OPEC members tightened.

Investors are also bracing for potential political

uncertainty after Canadian Prime Minister Justin Trudeau said he

plans to resign in the coming months, bowing to pressure from

lawmakers alarmed by his Liberal Party's unpopularity.

Besides, focus is on the U.S. ADP National Employment Report

for December and weekly jobless claims data, both due later in

the day. Key nonfarm payrolls numbers in the U.S. are scheduled

to be released on Friday.

Minutes from the U.S. Federal Reserve's December meeting is

due at 2:00 p.m. ET.

Back home, the Toronto Stock Exchange's S&P/TSX composite

index ended lower for a second straight day on

Tuesday, as a jump in U.S. government borrowing costs hurt

investor sentiment.

In corporate news, Calibre Mining ( CXBMF ) announced

fourth-quarter gold production figures.

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

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