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CANADA STOCKS-TSX futures rise ahead of data-heavy week
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CANADA STOCKS-TSX futures rise ahead of data-heavy week
Nov 11, 2024 3:53 AM

Nov 11 (Reuters) - Futures tied to Canada's main stock

index rose on Monday, mirroring Wall Street peers, with

investors focusing on this week's major economic indicators

including key U.S. inflation data.

December futures on the S&P/TSX index were up 0.5%

at 6:00 a.m. ET (11:00 GMT).

Wall Street futures rose on Monday and were set to continue

their post-U.S. election gains.

Donald Trump's reelection kicked off a global stock market

rally last week on expectations that the Trump administration's

second term will bring equities-boosting tax cuts and looser

regulations.

Later this week, data from the U.S. consumer price index

could provide more clues about the Federal Reserve's monetary

policy move at its December policy meeting.

In Canada, quarterly earnings from e-commerce services giant

Shopify ( SHOP ) will grab investor interest on Tuesday, while

data from manufacturing sales is expected on Friday.

The TSX composite index ended lower on Friday but

logged a weekly gain, broadly benefiting from Trump's

reelection.

The energy sector could come under pressure as oil prices

fell after China's stimulus plan disappointed investors and the

U.S. dollar strengthened.

The materials sector grabbed attention as gold prices fell

against a firmer dollar and strong risk appetite, with markets

expecting the Fed to adopt a cautious approach under the Trump

administration.

Copper prices also slipped as top consumer China's latest

stimulus package fell short of investor expectations.

In corporate news, Constellation Software ( CNSWF ) slightly

missed third-quarter revenue estimates on Friday.

Meanwhile, the Montreal Longshoremen's Union rejected the

final offer made for a new labour contract, leading to a lockout

being declared.

COMMODITIES

Gold: $2,660.6; -0.8%

US crude: $69.34; -1.5%

Brent crude: $72.92; -1.3%

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 = 1.3928 Canadian dollars)

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