Dec 10, 2024 (Baystreet.ca via COMTEX) --
Futures tied to Canada's main stock index nudged down on Tuesday as oil prices eased, while cautious investors awaited the Bank of Canada's interest rate decision due later in the week.
The TSX lost 66.38 points to conclude Monday at 25,625.42
December futures dipped 0.1% Tuesday.
The Canadian dollar nudged 0.01 cents to 70.56 cents U.S.
The BoC is widely anticipated to cut policy rate by an outsized half percentage point on Wednesday. The expectations jumped after Friday's jobs data showed a sharp rise in the country's unemployment rate.
Though Canada's inflation remains right within the central bank's 2% target range, investors have expressed concerns about its dismal economic growth.
In corporate news, food retail and distribution company North West Company missed third-quarter revenue estimates.
ON BAYSTREET
The TSX Venture Exchange jumped 4.53 points to 614.75.
ON WALLSTREET
Stock futures hovered near the flatline on Tuesday, after the S&P 500 and NASDAQ Composite pulled back from record highs.
Futures for the Dow Jones Industrial average stalled 36 points, or 0.1%, to 44,442.
Futures for the S&P 500 acquired four points, or 0.1%, to 6,069.75
Futures for the NASDAQ Composite Index sank 41 points, or 0.2%, to 21,524,75.
Oracle shares slumped more than 6% after the database software company posted fiscal second-quarter results that missed Wall Street's estimates. The stock has jumped more than 80% this year.
The major averages fell on Monday. The S&P 500 and the NASDAQ Composite slid about 0.6%, dropping from recent records as Nvidia shares declined. Shares of the chip giant fell again Tuesday on the heels of a Chinese regulator saying it was investigating the company for possible violations of the country's antimonopoly law.
Elsewhere in tech, juggernauts Meta Platforms, Amazon and Netflix also ended the previous session lower.
Several companies of note are also reporting results Tuesday, including GameStop and Dave & Buster's Entertainment
Investors are now waiting on the U.S. consumer price index report, which is due Wednesday and could influence how the Federal Reserve proceeds on interest rates at its Dec. 17-18 meeting. Economists polled by Dow Jones forecast that headline inflation rose 0.3% in November and 2.7% over the prior 12 months.
In Japan, the Nikkei 225 gained 0.5% Tuesday, while in Hong Kong, the Hang Seng dropped 0.5%
Oil prices ditched 34 cents to $68.03 U.S. a barrel.
Gold prices jumped $11.30 to $2,697.10 U.S. an ounce.
COMTEX_460685788/2559/2024-12-10T07:57:09
