TSX futures edge higher ahead of Fed Chair Powell's comments
Sept 30 (Reuters) -Futures tied to Canada's main stock index rose slightlyon Monday as investors remained on the sidelines ahead of Federal Reserve Chair Jerome Powell's comments.
December futures on the S&P/TSX index SXFcv1 were up 0.1% at 6:13 a.m. ET (10:13 GMT).
The composite index .GSPTSE ended lower on Friday but notched its third straight weekly gain on the recent 50-basis-point interest rate cutin the United States.
The Fed is widely expected to cut rates further at its next two meetingslater in the year and Powell's speech, due at 01:55 p.m. ET, will be in focus for clues on it. 0#FEDWATCH
Investors will also assess S&P Global's Canada manufacturing purchasing managers' index (PMI) and Ivey PMIlater in the week.
In Canada, inflation has reached 2% target of its central bank, whichnow aims to boost the domestic economy.
The Bank of Canadahas already slashed its borrowing costs three times this year and isexpected to trim for the fourth time at its October policy meeting. 0#BOCWATCH
Canada's energy sector came under focus as oil prices dipped, paringits earlier gains from potential supply disruptions due to escalating conflict in the Middle East. O/R
The materials sector could take cues from gold prices, which hovered just below last week's record high, and copper prices that jumped to anaround four-month high after a series of stimulus from China, the world's largest commodity consumer. GOL/ MET/L
In corporate news, theToronto-Dominion Bank TD.TO nears a possible guilty plea on criminal charges that its U.S. unit failed to curb money laundering, the Wall Street Journal reported on Friday.
COMMODITIES
Gold XAU=: $2,648.7; -0.3% GOL/
US crude CLc1: $67.98; -0.2% O/R
Brent crude LCOc1: $71.62; -0.5% 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 = 1.3524 Canadian dollars)
Reporting by Nikhil Sharma in Bengaluru; Editing by Leroy Leo
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