Canada Stocks-TSX futures little changed as investors assess US-Iran talks, corporate earnings
EWC•Market drivers and upcoming data
- Tehran said it was close to reaching a final agreement with Oman on new shipping lanes through the Strait of Hormuz, but reiterated that several U.S. conditions must be met before the strategic waterway is reopened.
- Oil prices were little changed, with Brent crude futures LCOc1 trading around $84.49 per barrel, while West Texas Intermediate crude CLc1 traded at $79 a barrel.
- In earnings, Barrick Mining ABX.TO missed second-quarter profit estimates. The miner's U.S.-listed shares were down 5% in premarket trading.
- Quarterly results from companies including Cargojet CJT.TO and Silvercorp Metals SVM.TO are due after the bell.
- Investors are also awaiting U.S. inflation data this week, with July Consumer Price Index (CPI) data due Wednesday and Producer Price Index (PPI) on Thursday.
- Near-term interest rate-hike bets eased after data on Friday showed the U.S. economy unexpectedly shed jobs in July. Traders are pricing in a 44% chance of a rate hike in September, according to the CME FedWatch tool.
- Meanwhile, Canada's jobs report was more upbeat, with employment jumping by 75,100 positions and the jobless rate falling for the third consecutive month.
- Still, the Bank of Canada is widely expected to keep its interest rates unchanged during the September meeting, LSEG data showed.
TSX futures little changed as investors weigh Middle East developments and earnings
Aug. 10 (Reuters) - Futures tracking Canada's main stock index were muted on Monday, as investors weighed developments in the Middle East and fresh corporate earnings, while bracing for a week of key U.S. economic data.
September futures tracking the S&P/TSX Composite index SXFc1 were flat at 2,139.50 points at 6:10 a.m. ET. The main index notched a record high on Friday, posting its biggest weekly advance in four months.
