Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
News
All NewsCompaniesIndexesCurrency / ForexCommoditiesCryptocurrenciesETFInterest RatesEconomyThemesSectors 

TSX futures muted as gold prices slip; U.S. jobs data in focus

12/08/2022 | 07:57am EST
Toronto Stock Exchange's S&P/TSX composite index rises to a record high

(Reuters) - Futures tracking Canada's resources-heavy main stock index were subdued on Thursday as gold prices slipped, while investors awaited U.S. labor data to gauge the Federal Reserve's next policy move amid growing fears of a recession.

Futures on the S&P/TSX index were flat, while those tracking Wall Street's main indexes steadied after a recent string of losses. [.N]

While oil prices rebounded on hopes that easing anti-COVID measures in China will revive demand, gold prices slipped against a stronger dollar. [O/R] [MET/L]

Commodity prices have a major impact on Toronto stocks, as materials and energy companies combined have a weightage of about 31% on the main index.

After recent signs of U.S. economic strength fueled worries that interest rates may stay higher for longer, investors will keep an eye out for more data, including the weekly jobless claims report later in the day in the run-up to the U.S. central bank's interest rate decision next week.

The Bank of Canada hiked its overnight lending rate by 50-basis points on Wednesday, touching a 15-year high but the central bank signaled its unprecedented tightening campaign was near an end.

The benchmark Canadian index closed lower for a fourth straight session on Wednesday, though it has recovered from its October lows on hopes that the U.S. Fed and other major central banks may temper their aggressive rate-hike stance.

Meanwhile, Canada proposed beefing up its foreign investment rules to give the government greater power to scrutinize and potentially block overseas deals that bring national security risks.

(Reporting by Shashwat Chauhan in Bengaluru; Editing by Anil D'Silva)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.11% 0.7047 Delayed Quote.4.32%
BRENT OIL 0.14% 84.42 Delayed Quote.0.12%
BRITISH POUND / US DOLLAR (GBP/USD) 0.13% 1.23623 Delayed Quote.2.50%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.01% 0.74711 Delayed Quote.1.72%
EURO / US DOLLAR (EUR/USD) 0.04% 1.08537 Delayed Quote.1.57%
GOLD 0.11% 1923.71 Delayed Quote.5.72%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.05% 0.012277 Delayed Quote.1.48%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.07% 0.6468 Delayed Quote.2.27%
S&P/TSX COMPOSITE INDEX -0.69% 20572.11 Delayed Quote.6.86%
US DOLLAR / CANADIAN DOLLAR (USD/CAD) -0.01% 1.3383 Delayed Quote.-1.69%
WTI 0.00% 77.97 Delayed Quote.-1.29%
Latest news "Economy"
05:59pLIVESTOCK-Live cattle firms on strong cash trade; inventory report expected
RE
05:52pMemphis fires two EMTs who responded to police beating of Tyre Nichols
RE
05:45pAustralian Consumer Confidence Nudges Higher; Depressed Overall
DJ
05:40pFlight Centre to buy British leisure travel business Scott Dunn in $149 million deal
RE
05:37pAIG fires interim CFO Mark Lyons for confidentiality breach
RE
05:36pThe WSJ Dollar Index Rises 0.26% to 95.19 -- Data Talk
DJ
05:36pEuro Lost 0.16% to $1.0852 -- Data Talk
DJ
05:36pSterling Lost 0.35% to $1.2352 -- Data Talk
DJ
05:36pDollar Gains 0.46% to 130.45 Yen -- Data Talk
DJ
05:30pDogecoin Lost 3.55% to $0.087 at 5 p.m. ET -- Data Talk
DJ
Latest news "Economy"