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CANADA STOCKS-TSX futures slip as metal prices fall amid slew of earnings
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CANADA STOCKS-TSX futures slip as metal prices fall amid slew of earnings
Aug 1, 2024 4:21 AM

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%

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= C$1.3827)

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