Canada Stocks-TSX futures flat as investors weigh National Bank of Canada's results, trade war
EWC•Bank earnings support the benchmark index
- National Bank of Canada NA.TO reported a rise in third-quarter profit, driven by a robust performance in its wealth management segment.
- The latest results add to a series of stronger-than-expected quarterly results by Bank of Montreal BMO.TO and Bank of Nova Scotia BNS.TO on Tuesday, which helped the TSX notch a record high.
Trade war, commodities and inflation data in focus
- Traders kept an eye on the ongoing trade war with the U.S. after Canada hit back with retaliatory tariffs on about $20 billion worth of U.S. annual imports, matching Washington's latest duties dollar-for-dollar.
- The counter-tariffs on U.S. goods take effect on September 8 and impose duties of 15%, 25% and 50% across around 700 products imported from south of the border, a government statement mentioned.
- Meanwhile, gold prices slipped as traders awaited U.S. inflation data due at 8:30 a.m. ET, which could offer clues on the Federal Reserve's outlook on interest rates.
- Spot gold XAU= shed 0.8%, while silver XAG= slipped 0.2%. GOL/
- Oil prices fell more than 2% as talks between Iran and Oman revived hopes that the Strait of Hormuz could reopen. Brent crude futures LCOc1 shed 2.9%, while West Texas Intermediate crude futures CLc1 slipped 2.7%. O/R
TSX futures steady as investors weigh bank results and trade tensions
Aug. 26 (Reuters) - Futures linked to Canada's stock index were subdued on Wednesday as investors weighed positive quarterly results from National Bank of Canada, alongside the ongoing trade war with the U.S.
Futures on the S&P/TSX index SXFc1 were flat at 2,164.20 points at 6:40 a.m. ET, after the benchmark index logged a record high in the previous session.
