TSX futures flat ahead of Nvidia's quarterly results
Nov 20 (Reuters) -Futures tied to Canada's main stock index were muted on Wednesday as investors avoided big bets ahead of chipmaker Nvidia's NVDA.O quarterly results later in the day.
December futures on the S&P/TSX index SXFcv1 were up 0.02% at 6:04 a.m. ET (11:04 GMT).
Nvidia's third-quarter results, due after the bell, are expected to cause significant volatility in the markets, with options markets primed for a nearly $300 billion swing in the AI darling's market value in either direction.
Wall Street futures were also little changed. .N
Canada's energy sector could take cues from oil prices that steadied as supply concerns stemming from the escalating Russia-Ukraine war offset data showing rising U.S. crude stocks. O/R
The materials sector also grabbed attention as gold prices eased against a firm dollar, though safe-haven demand linked to the Russia-Ukraine tensions helped cap further losses. Copper prices inched up for a fourth session. GOL/ MET/L
Investors were focused on the geopolitical tensions in Europe, especially after Reuters reported Russian President Vladimir Putin was open to discussing a Ukraine ceasefire deal with U.S. President-elect Donald Trump.
The TSX composite index .GSPTSE ended higher on Tuesday as investors weighed the Russia-Ukraine war and hotter-than-expected domestic inflation data.
Canada's annual inflation rate rose to 2% in October, which triggered traders to trim their bets for an outsized interest-rate cut by the Bank of Canada in December.
Market participants widely expect a quarter-point cut next month. 0#BOCWATCH
In corporate news, Fairfax Financial FFH.TO announced it intends to offer C$450 million in senior notes due 2034 and C$250 million in senior notes due 2054.
COMMODITIES
Gold XAU=: $2,625.06; -0.25% GOL/
US crude CLc1: $69.74; +0.5% O/R
Brent crude LCOc1: $73.42; +0.15% 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 = 1.3992 Canadian dollars)
Reporting by Nikhil Sharma in Bengaluru; Editing by Shreya Biswas
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