May 15 (Reuters) - Futures for Canada's main stock index
ticked slightly higher on Wednesday, supported by a rise in
commodity prices, while investors remained cautious ahead of
crucial U.S. consumer prices data that could shed light on the
interest rate cut timeline.
June futures on the S&P/TSX index were up 0.2% at
6:40 a.m. ET (10:40 GMT).
U.S. consumer prices data, due 8:30 a.m. ET will show
whether the soft landing hopes that have fueled recent gains in
equities are justified.
Analysts polled by Reuters expect core CPI to rise by 0.3%
in the month, down from 0.4% in March, for an annual gain of
3.6%, down from 3.8%.
The U.S. retail sales data for April and figures on Canada's
manufacturing sales for March are also due at the same time.
Meanwhile, the energy and materials
stocks are expected to rise at open, buoyed by higher commodity
prices.
Gold prices climbed, and London copper touched a more than
two-year high, aided by a weaker U.S. dollar.
Crude prices also rose on expectations for higher demand as
the U.S. dollar weakened and a report showed U.S. crude and
gasoline inventories fell.
The Toronto Stock Exchange's S&P/TSX composite index
ended down 15.83 points, or 0.1%, at 22,243.34 on
Tuesday, as oil prices weighed on energy shares.
Dow e-minis were up 0.06% at 6:40 a.m. ET, S&P 500
e-minis were up 0.04% and Nasdaq 100 e-minis
were down 0.05%.
COMMODITIES AT 6:40 a.m. ET
Gold futures: $2,375.6; +0.7%
US crude: $78.1; +0.1%
Brent crude: $82.43; +0.1%
($1= C$1.3632)