Date
11/21/2023 9:21:35 AM
(MENAFN- Baystreet)
Futures Tail off Tuesday
First Quantum Again in Spotlight
Futures for Canada's main stock index edged down on Tuesday as oil prices declined, while investors awaited key domestic inflation readings and the U.S. federal Reserve's November meeting minutes.
The TSX Composite gained 70.7 points to close Monday to 20,246.47.
December futures were off 0.2% early Tuesday.
The Canadian dollar eked up 0.02 cents to 72.89 cents U.S.
On the company front, First Quantum Minerals will carry out maintenance at its Panama mine from Nov. 23 due to coal supplies being blocked by protestors opposing the government's contract with one of the world's biggest and newest copper mines.
October's consumer price index rose 3.1% on a year-over-year basis, following a 3.8% increase in September. On a seasonally adjusted monthly basis, the CPI fell 0.1% in October.
Elsewhere, the national new housing price index was unchanged month over month in October. Prices were down or unchanged in 22 of the 27 census metropolitan areas surveyed and up in the remaining five.
ON BAYSTREET
The TSX Venture Exchange added 1.96 points Tuesday to 532.46.
ON WALLSTREET
Stock futures were down slightly Tuesday as traders assessed some disappointing retail results and looked ahead to the release of the Federal Reserve meeting minutes.
Futures for the Dow Jones Industrials shed 61 points, or 0.2%, to 35,164.
Futures for the S&P 500 lost 10.25 points, or 0.2%, at 4,552.
Futures for the NASDAQ declined 52.25 points, or 0.3%, to 16,034.25.
Wall Street is coming off a strong session, with the S&P 500 and NASDAQ posting their fifth straight day of gains. Tech shares outperformed, leading the major averages higher.
Traders will also turn to earnings from Nvidia and HP. Nvidia shares hit an all-time high on Monday.
Lowe's fell nearly 4% premarket after reducing its full-year sales outlook. Best Buy declined more than 5% following a reduced full-year outlook and revenue miss.
The minutes from the Fed's Oct. 31-Nov.1 meeting are slated for release at 2 p.m. ET.
In Japan, the Nikkei 225 lost 0.1% Tuesday, while in Hong Kong, the Hang Seng dropped 0.3%.
Oil prices handed over 40 cents to $77.43 U.S. a barrel.
Gold prices moved forward $12.90 to $1,993.20 U.S. an ounce.
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