Futures Rise on U.S.-China Trade Extension
Futures tracking Canada's main stock index climbed on Tuesday as commodity prices firmed following the U.S.–China trade truce, while attention turned to the much-awaited U.S. inflation data for insight into the Federal Reserve's rate-cut trajectory.
The TSX Composite Index gained 16.55 points to greet the closing bell Monday at 27,775.23
Futures moved up 0.2% Tuesday.
The Canadian dollar let go of 0.09 cents to 72.51 cents U.S.
In the economic docket, Statistics Canada reports the total value of building permits issued in Canada decreased in June by $1.2 billion (-9.0%) to $12.0 billion.
ON BAYSTREET
The TSX Venture Exchange gained 6.02 points to 793.24 Monday.
ON WALLSTREET
Stock futures traded little changed early Tuesday, as investors prepare for a fresh inflation report.
Futures for the Dow Jones Industrials fell back seven points to 44,077.
Futures for the S&P 500 dipped 0.25 points to 6,399.50
Futures for the NASDAQ slid 8.25 points, or 0.1%, to 23,629.25.
Shares of Circle Internet Group jumped 7% on Tuesday morning after releasing its first quarterly earnings report as a publicly listed company.
Shares of Hanesbrands surged nearly 30% after The Financial Times reported that the T-shirt maker was nearing a deal to be acquired by Gildan Activewear for nearly $5 billion.
Gildan shares slid 7%.
Investors are focused on the July consumer price index report, hoping to gather potential insight into how the Federal Reserve will handle short-term interest rates, especially as the S&P 500 hovers near an all-time high.
Economists polled by Dow Jones expect the index to advance 0.2% month-over-month in July, and 2.8% on an annualized basis. So-called core CPI, which strips out food and energy from the reading, is expected to climb 0.3% month-over-month and 3% year over year.
The report comes as traders weigh the latest developments on the tariff front. President Donald Trump said Monday he’d extend a 90-day pause on higher levies on Chinese goods.
In Japan, the Nikkei 225 returned from a long weekend to rocket 2.2%, to a new all-time high, while in Hong Kong, the Hang Seng gained 0.3%.
Oil prices hesitated eight cents to $63.88 U.S. a barrel.
Gold prices dipped $11.60 at $3,393.10 U.S. per ounce.
