TSX futures fall amid focus on Wall Street earnings, BoC rate decision
Oct 22 (Reuters) -Futures tied to Canada's main stock index fell on Tuesday, mirroring Wall Street peers, as investors kept their focus on U.S. corporate earnings and the upcoming Bank of Canada's monetary policy decision.
December futures on the S&P/TSX index SXFcv1 were down 0.5% at 6:01 a.m. ET (10:01 GMT).
Wall Street futures fell on Tuesday, as a jump in treasury yields pressured rate-sensitive stocks, while investors monitored corporate earnings for clearer market direction. .N
Meanwhile, markets worldwide were focused on the upcoming U.S. presidential elections on Nov. 5, with bets reflecting higher odds for a Donald Trump victory, while also reassessing the scope for further U.S. interest rate cuts.
In Canada, the spotlight remained on the central bank's interest rate decision on Wednesday, with expectations of a 50-basis-point cut, its first such reduction in 15 years outside of the pandemic era.
Domestic investors were also set to monitor producer prices data scheduled later in the day.
Among sectors, the heavyweight energy sector came under focus as oil prices edged higher amid renewed efforts to push for a ceasefire in the Middle East. O/R
The materials sector could benefit from the rise in gold prices as U.S. election uncertainties, geopolitical tensions and rate cut expectations from central banks boosted the bullion's demand. GOL/
Additionally, copper prices gained on expectations of further stimulus measures and demand recovery in top consumer China. MET/L
The composite index .GSPTSE ended lower after briefly hitting a record high on Friday due to a decline in financial and real estate stocks.
In corporate news, transportation and logistics company TFI International TFII.TO reported its third-quarter results where it missed revenue and profit estimates.
COMMODITIES
Gold XAU=: $2,731.1; +0.4% GOL/
US crude CLc1: $71.12; +0.8% O/R
Brent crude LCOc1: $74.82; +0.7% O/R
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/ CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1 = 1.3834 Canadian dollars)
Reporting by Nikhil Sharma in Bengaluru; Editing by Vijay Kishore
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