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CANADA STOCKS-TSX futures slip as commodity prices fall
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CANADA STOCKS-TSX futures slip as commodity prices fall
Jul 19, 2024 4:52 AM

July 19 (Reuters) - Futures linked to Canada's main

stock index fell on Friday as commodity prices eased, while

investors assessed the impact of a global tech outage that

disrupted operations across businesses.

The S&P/TSX 60 futures were down 0.30% as of 06:29

a.m. ET (1029 GMT).

Wall Street futures also edged lower as investors moved

away from megacap technology growth stocks in the wake of the

tech rout that led to sectoral declines this week.

Canada's benchmark index mimicked its U.S. counterpart's

losses this week, after initial record closing highs.

Its materials sector was poised for another losing

session as gold prices fell, but was set for a fourth

straight weekly gain. Copper prices were also down at a more

than three-month low.

The energy sector was in focus with the oil prices down,

hurt by weak investor sentiment due to a firm dollar, mixed

economic signals and fragile demand worries from China.

A recent string of data from Canada, including annual

inflation and unemployment readings, has acted as a catalyst to

the narrative of another rate cut by the Bank of Canada.

Markets will closely watch the BoC's monetary policy meeting

on 24 July, with the odds of a rate cut standing at 94.6%.

Meanwhile, investors will monitor the Canadian economic

datasets, retail sales and producer prices numbers, due at 8:30

a.m. ET.

In corporate news, SmartCentres Real Estate Investment Trust

announced it has priced an offering of $350 million

Series AA senior unsecured debenture issue.

COMMODITIES

Gold futures: $2412.96; -1.31%

US crude: $82.56; -0.3%

Brent crude: $84.9; -0.3%

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 = 1.3714 Canadian dollars)

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