• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Editor's Pick

TSX futures edge higher ahead of GDP data

by November 29, 2024
written by November 29, 2024

(Reuters) – Futures tied to Canada’s main stock index edged higher on Friday in thin trading volumes, while investors looked forward to the day’s key economic data to gauge the pace of the Bank of Canada’s interest-rate cuts.

December futures on the S&P/TSX index were up 0.1% at 6:06 a.m. ET (11:06 GMT).

The U.S. equity market reopened for half a day following the Thanksgiving holiday on Thursday, with limited trading volumes expected throughout the day.

All eyes will be on Canada’s third-quarter gross domestic product report, due at 8:30 a.m. ET. Economists forecast growth slowing to an annualized rate of 1%, lower than the Canadian central bank’s estimate of 1.5%.

The country’s economy has buckled under the pressure of high borrowing costs. The top bank has already delivered four rate cuts in a row this year to spur growth.

Traders widely expect a 25-basis-point rate cut at the BoC’s rate-setting meeting next month.

The TSX’s heavyweight energy sector grabbed attention as oil prices fell, pressured by easing concerns over supply risks from the Israel-Hezbollah conflict. [O/R]

The materials sector could mirror gold prices, which rose due to a dip in the dollar and rising geopolitical tensions, while copper prices also edged higher. [GOL/] [MET/L]

The composite index, which closed at a record high on Thursday due to gains for energy and industrial shares, is on track to log its fifth consecutive monthly rise.

COMMODITIES

Gold: $2,661.40; +0.77% [GOL/]

US crude: $68.30; -0.61% [O/R]

Brent crude: $72.68; -0.82% [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

Canadian markets directory

($1 = 1.4002 Canadian dollars)

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
TSMC founder Morris Chang offered top job to Jensen Huang, memoir shows
next post
India’s October infrastructure output grows 3.1% on year

You may also like

China central bank conducts 1.7 trln yuan of...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

ECB president fears loss of central bank independence

January 27, 2025

European tech shares tumble as China’s AI push...

January 27, 2025

Futures slip as investors eye China’s latest AI...

January 27, 2025

Markets may be repeating the mistake of 2019,...

January 27, 2025

How billionaire Caltagirone could influence Italy’s banking M&A...

January 27, 2025

How Italy’s MPS went from near collapse to...

January 27, 2025

Analysis-To weather Trump, emerging market investors look to...

January 27, 2025

Chinese AI startup DeepSeek overtakes ChatGPT on Apple...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • ESPN, Fox to bundle upcoming streaming services for $39.99 a month

      August 12, 2025
    • What Trump’s Nvidia and AMD China deal means for the world

      August 12, 2025
    • A top Federal Reserve official says bleak jobs data backs the case for 3 rate cuts

      August 11, 2025
    • Bed Bath & Beyond relaunches with first store in Nashville, plans dozens more

      August 9, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (595)
    • Stock (6,426)

    Latest News

    • ESPN, Fox to bundle upcoming streaming services for $39.99 a month
    • What Trump’s Nvidia and AMD China deal means for the world

    Popular News

    • Pure Storage rallies 17% after earnings beat, strong guidance
    • US third-quarter economic growth unrevised at 2.8%

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy