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.
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