TSX futures subdued ahead of earnings-heavy week
Timilehin Adejumobi
1 min read
Futures for Canada’s main stock index were muted on Monday, with weakness in crude prices offset by gains in gold, while investors remained on the sidelines ahead of major U.S. earnings.
June futures on the S&P/TSX index were flat at 7:01 a.m. ET.
Oil prices were steady as concerns over rising interest rates, the global economy growth and the outlook for fuel demand were balanced by the prospect of tightening supplies.
The bullion gained but traded in a tight range as markets continued to focus on the U.S. Federal Reserve’s interest rate strategy in its fight against surging inflation.
Investors also remained cautious ahead of earnings from major U.S. growth companies this week, including Microsoft Corp (MSFT.O) and Amazon (AMZN.O), while global markets remained subdued.
The Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE) ended higher on Friday, clocking gains for the fifth straight week as technology stocks rallied, but the materials sector lost ground on lower gold prices.
This report’s information was first seen on REUTERS; to read more, click this link.
