Futures for Canada’s main stock index were muted on Tuesday as investors remained cautious ahead of the Bank of Canada’s next interest rate decision later in the week while climbing commodity prices kept declines in check.
The TSX Composite was in the minus category 4.08 points Monday to close at 22,260.30.
June futures were unchanged Tuesday.
The Canadian dollar dropped 0.04 cents to 73.64 cents U.S.
The Bank of Canada is set to announce its next monetary policy decision on Wednesday, where the central bank is widely expected to leave interest rates unchanged, in its third meeting this year. However, markets are pricing in a little over 65% bets of a cut in June.
Stephens resumed coverage of TFI International, while J.P. Morgan added the transport and logistics company’s U.S.-listed shares to its U.S. Analyst Focus List.
ON BAYSTREET
The TSX Venture Exchange inched up 1.17 points to 585.50.
ON WALLSTREET
Stock futures were little changed on Tuesday morning as investors looked ahead to the release of key inflation data.
Futures for the Dow Jones Industrials index fell three points to 39,216.
Futures for the S&P 500 added 3.5 points to 5,256,75.
Futures for the NASDAQ Composite moved forward 25.75 points, or 0.1%, to 18,320.75.
Stocks ended Monday’s trading near the flatline, with the S&P 500 closing with a marginal decline of 0.04% and the 30-stock Dow losing 0.03%. The NASDAQ Composite eked out a small gain of 0.03%.
In the way of economic data, the National Federation of Independent Business will issue its small business survey results on Tuesday. In addition to Wednesday’s release of the CPI, the Federal Reserve’s minutes from its March meeting are also slated for that day.
In Japan, the Nikkei 225 rose 1.1% Tuesday, while in Hong Kong, the Hang Seng took 0.6%.
Oil prices edged up nine cents to $86.34 U.S. a barrel.
Gold prices brightened $20.90 to $2,371.90 U.S. an ounce.
