Aug 6 (Reuters) - Futures linked to Canada's main stock
index tumbled on Tuesday, catching up to the brutal sell-off
across global markets on Monday, triggered by recession fears in
the United States.
September futures on the S&P/TSX index were down
1.8% at 6:48 a.m. ET (10:48 GMT).
Global stock markets saw a rout on Monday as investors
scrambled towards safe-haven assets, after weaker economic data
in the U.S. last week stoked fears of a recession in the world's
largest economy.
Investor sentiment was partially soothed after data on
Monday showed a rebound in U.S. services sector activity in
July, and comments from Federal Reserve policymakers signalled
rate cuts ahead.
The benchmark U.S. S&P 500 and the Nasdaq
each closed 3% lower on Monday.
The Canadian markets were closed on account of a holiday.
The Toronto Stock Exchange's S&P/TSX composite index
ended 2.2% lower on Friday, logging its biggest
decline since February 13.
On the commodities side, oil prices pared early gains on
Tuesday to trade steady, supported by Middle East supply fears.
Canadian miners will be in the spotlight as gold prices
inched up, while copper deepened its losses on pessimism around
global growth and weak Chinese demand.
Data-wise, domestic employment figures are due on Friday
that will shed more light on the country's labour market.
Attention will also be on a host of Fed policymakers
scheduled to speak throughout the month, against the backdrop of
recession fears.
In corporate news, Suncor Energy ( SU ) and iA Financial ( IAFNF )
among others are set to report their quarterly figures
after the closing bell on Tuesday.
COMMODITIES AT 6:48 a.m. ET
Gold futures: $2,423; +0.5%
US crude: $73.32; +0.5%
Brent crude: $76.62; +0.4%
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($1= C$1.3838)