TSX futures boosted by metal; CPI data, US earnings in focus
Nov 18 (Reuters) -Futures tied to Canada's main stock index rose on Monday, supported by metal prices, as investors looked forward to this week's domestic inflation data and AI darling Nvidia's quarterly earnings.
December futures on the S&P/TSX index SXFcv1 were up 0.27% at 6:04 a.m. ET (11:04 GMT).
Canada's materials sector could benefit from gold prices that rebounded after posting losses in the previous six sessions, while copper prices also edged higher. GOL/ MET/L
The energy sector remained in focus as oil prices rose after the war between Russia and Ukraine intensified over the weekend, while concerns about fuel demand in China and forecasts of a global oil surplus weighed on markets. O/R
The composite index .GSPTSE ended lower on Friday as the prospect of a slower pace of Federal Reserve interest-rate cuts spurred investors to take some profits on gains made since the U.S. presidential election.
Canadian investors were squarely focused on the consumer price index (CPI) data due this week, whichcould provide clues on the Bank of Canada's move at its December policy meeting.
The BoC slashed interest rates by half a percentage point last month to boost the domestic economy. Traders see a 33.4% chance for another 50-basis-point rate cut next month. 0#BOCWATCH
Canada's producer prices and retail sales data are also due this week.
Nvidia's NVDA.O third-quarter results on Wednesday will take center stage as analysts estimate its sales to have jumped 82.8% to $33.13 billion, according to data compiled by LSEG.
In corporate news, Canadian fund Brookfield BN.TO plans to offer about 7 billion euros ($7.4 billion) for Spanish drugmaker Grifols GRLS.MC after finishing due diligence, according to news website El Confidencial.
COMMODITIES
Gold XAU=: $2,592.27; +1.21% GOL/
US crude CLc1: $67.5; +0.72% O/R
Brent crude LCOc1: $71.62; +0.82% 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 = 1.4089 Canadian dollars)
Reporting by Nikhil Sharma in Bengaluru; Editing by Shreya Biswas
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