Dec 4 (Reuters) - Futures tied Canada's main stock index
edged up on Wednesday, with investors focused on strong
quarterly results from the top domestic lenders.
December futures on the S&P/TSX index were up 0.16%
at 6:54 a.m. ET (11:54 a.m. GMT).
Royal Bank of Canada ( RY ) reported a rise in
fourth-quarter profit as the country's biggest lender benefited
from strong performance in its personal banking business.
Meanwhile, the National Bank of Canada ( NTIOF ) also reported
higher quarterly profit, helped by solid performance in its
wealth management unit.
Among sectors, energy was in focus as oil prices firmed
slightly, with traders expecting OPEC+ to announce an extension
to supply cuts this week, while heightened geopolitical tensions
continue to dominate market sentiment.
The materials sector also grabbed attention as gold and
copper prices eased amid a marginal recovery in the U.S. dollar.
The composite index ended near a record closing
high on Tuesday as gains in mining outweighed a drop in Bank of
Nova Scotia ( BNS ) following disappointing results.
Across the border, the focus will be on the U.S. Federal
Reserve Chair Jerome Powell's speech later in the day, which
could offer clues on the interest rate decision at the Dec.
17-18 policy meeting.
Additionally, November private payrolls data, due at 8:15
a.m. ET, along with the highly anticipated November employment
report on Friday, could also influence the Fed decision.
Traders see about a 72.7% chance of the Fed reducing
interest rates by 25 basis points.
Meanwhile, Greater Toronto Area home sales rose for the
fourth straight month in November and prices climbed to a
one-year high as lower borrowing costs encouraged buyers to move
off the sidelines.
COMMODITIES
Gold: $2645.12; +0.06%
US crude: $70.09; +0.21%
Brent crude: $73.85; +0.31%
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($1 = 1.4057 Canadian dollars)