Aug 25 (Reuters) - Futures tracking Canada's main stock
index slipped on Monday after the index hit a record high in the
previous session, kicking off a week packed with economic data
and U.S. tech earnings.
The futures on the S&P/TSX index fell 0.26% by
05:38 a.m. ET (0938 GMT).
The S&P/TSX composite index closed at an
all-time high of 28333.13 on Friday after the U.S. Federal
Reserve Chair Jerome Powell's remarks left room for potential
interest rate cuts.
On Monday, oil prices steadied as traders fretted over
potential Russian supply disruptions by more U.S. sanctions and
Ukrainian attacks.
Gold slipped from a near two-week high as the dollar
strengthened, but rising U.S. rate cut bets limited the decline.
Powell at the Fed's annual Jackson Hole symposium on Friday
acknowledged the growing risks to the job market, while also
noting inflationary threats.
The Fed's preferred inflation gauge, the PCE deflator, due
on Friday, could allow it to monitor price pressures before
making a move next month.
Major brokerages, including Barclays, BNP Paribas and
Deutsche Bank, now expect a 25-basis-point rate cut in
September.
Chipmaker Nvidia's results on Wednesday could
determine the future of the tech-driven rally.
Other major U.S. data this week include weekly jobless
claims figures and second-quarter gross domestic product
estimates.
In Canada, second-quarter GDP numbers on Friday will be
watched to gauge the impact of tariffs on the economy.
In corporate news, many Air Canada ( ACDVF ) flight attendants
are unhappy with wage hikes in a tentative deal, which may fail
to secure union approval, Reuters reported on Friday, citing
cabin crew and a source familiar with the matter.
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($1 = 1.3824 Canadian dollars)