TSX futures fall ahead of U.S. data; Middle East conflict adds uncertainty
Oct 3 (Reuters) -Futures tied to Canada's main stock index fell on Thursday as investors remained cautious ahead of economic data from the United States, while a widening Middle East conflict added uncertainty to an anxious market.
December futures on the S&P/TSX index SXFcv1 were down 0.4% at 6:09 a.m. ET (1009 GMT).
Investors will evaluate U.S. weekly jobless claim numbers as well as the Institute for Supple Management's survey on the services sector's activity later in the day.
However, focus will remain on nonfarm payrolls data, expected later in the week, to gauge the health of the labor market and the U.S. Federal Reserve's interest rate-cut path.
Markets see a 63.7% chance of a 25-basis point cut at the U.S. central bank's November policy meeting. 0#FEDWATCH
On the conflict side, escalating tension in the Middle East, especially after Iran's missile strike on Israel, caused uncertainty in global markets that eventually propped up oil prices.
The energy sector could grab spotlight as oil prices rose on the prospects of the escalating conflict that could disrupt supply from the region. O/R
The materials sector could come under pressure as gold prices declined after recent economic data tempered expectations of a hefty November U.S. interest rate cut, while copper prices also extended losses. GOL/MET/L
The composite index .GSPTSE ended lower on Wednesday due to declines in industrials and financial stocks after it briefly hit a record high in intraday trading.
In corporate news, investment management firm Colliers International Group CIGI.TO announced its engineering unit, Englobe, has acquired Goodkey, Weedmark & Associates, a building engineering consulting firm.
COMMODITIES
Gold XAU=: $2,644.63; -0.5% GOL/
US crude CLc1: $71.35; +1.8% O/R
Brent crude LCOc1: $75.13; +1.7% 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 = 1.3525 Canadian dollars)
Reporting by Nikhil Sharma in Bengaluru; Editing by Maju Samuel
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