Aug 1 (Reuters) - Futures linked to Canada's main stock
index dipped on Thursday, pressured by a downtick in metal
prices, while investors looked ahead to more corporate earnings
in the country and the United States.
September futures on the S&P/TSX index were down
0.6% at 6:33 a.m. ET (10:33 GMT).
The composite index hit a record high in the
previous session on resource and technology shares and ended
July 5.6% higher, its biggest monthly gain since November.
The materials sector is expected to decline as
spot gold prices ticked lower and copper prices slid on
Chinese demand concerns.
On the other hand, energy shares were poised for
gains as oil prices rose after the killing of a Hamas leader
escalated the conflict in the Middle East.
Meanwhile, U.S. Federal Reserve Chair Jerome Powell on
Wednesday hinted at a September rate cut if the country's
economy followed its expected path and signs of cooling
inflation were sustained.
Futures tied to the benchmark S&P 500 and Nasdaq
rose modestly after the Fed's comments and upbeat
earnings from Meta Platforms ( META ).
Investors will focus on the crucial U.S. non-farm payrolls
(NFP) data due Friday and quarterly earnings from Big Tech
companies such as Apple ( AAPL ) and Amazon.com ( AMZN ).
Back home, Canadian Natural Resources ( CNQ ) beat
second-quarter profit estimates as the energy producer benefited
from higher crude prices and a rise in output.
Canada Goose Holdings ( GOOS ) beat quarterly revenue
estimates on Thursday, benefiting from consumer demand for its
non-winter clothing that includes fleece, sweats and lightweight
hoodies.
COMMODITIES AT 6:33 a.m. ET
Gold futures: $2,443.6; +0.2%
US crude: $78.37; +0.6%
Brent crude: $81.34; +0.6%
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($1= C$1.3827)