(Reuters) -Futures tracking Canada’s main stock index were flat on Thursday as investors took a breather following a record-breaking previous session, while focus shifted to upcoming economic data from the United States.
Futures on the S&P/TSX index rose 0.03% by 05:28 a.m. ET (0928 GMT). Soaring expectations of interest rate cuts by the U.S. Federal Reserve in September continued to boost the S&P/TSX composite index, which closed at an all-time high on Wednesday.
Tame U.S. inflation data this week further reinforced those bets, as it suggested the impact of tariffs on prices was limited.
To further evaluate the health of the economy, investors will assess July’s producer price index reading and jobless claims data for the week ended August 9, due at 08:30 a.m. ET.
Crude prices gained on concerns about Russia supply risks, particularly after U.S. President Donald Trump on Wednesday threatened “severe consequences” if Putin does not agree to peace in Ukraine. [O/R]
Oil markets were bracing for a pivotal U.S.-Russia summit on Friday to discuss a potential end to the war in Ukraine.
Meanwhile, gold prices eased after two straight sessions of gains, while copper prices also dipped ahead of critical China data on Friday. [GOL/] [MET/L]
Before the Bank of Canada’s July 30 interest rate decision, governors were divided on how much monetary policy could aid growth under current economic conditions, minutes of the meeting showed on Wednesday.
Among stocks, Frontera Energy posted a second-quarter net loss of $455.2 million, driven by non-cash impairment charges tied to its Corentyne license and Ecuadorian assets.
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($1 = 1.3774 Canadian dollars)
(Reporting by Nikhil Sharma; Editing by Vijay Kishore)
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