Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    StockNews24StockNews24
    Subscribe
    • Shares
    • News
      • Featured Company
      • News Overview
        • Company news
        • Expert Columns
        • Germany
        • USA
        • Price movements
        • Default values
        • Small caps
        • Business
      • News Search
        • Stock News
        • CFD News
        • Foreign exchange news
        • ETF News
        • Money, Career & Lifestyle News
      • Index News
        • DAX News
        • MDAX News
        • TecDAX News
        • Dow Jones News
        • Eurostoxx News
        • NASDAQ News
        • ATX News
        • S&P 500 News
      • Other Topics
        • Private Finance News
        • Commodity News
        • Certificate News
        • Interest rate news
        • SMI News
        • Nikkei 225 News1
    • Carbon Markets
    • Raw materials
    • Funds
    • Bonds
    • Currency
    • Crypto
    • English
      • العربية
      • 简体中文
      • Nederlands
      • English
      • Français
      • Deutsch
      • Italiano
      • Português
      • Русский
      • Español
    StockNews24StockNews24
    Home » TSX futures rise on commodity prices, larger US rate cut bets
    Commodity News

    TSX futures rise on commodity prices, larger US rate cut bets

    userBy userSeptember 13, 2024No Comments2 Mins Read
    Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    (Reuters) – Futures tied to Canada’s main stock index rose on Friday, aided by higher commodity prices, after markets raised their bets for a larger rate cut by the U.S. Federal Reserve next week.

    September futures on the S&P/TSX index were up 0.3% at 06:15 a.m. ET (1015 GMT).

    Global markets reacted positively to a sudden spike in bets for a hefty, half-point rate cut in the United States on Sept. 18, after reports from the Financial Times and Wall Street Journal termed the imminent policy decision “a close call”.

    Former New York Fed President Bill Dudley’s statement at a forum in Singapore pointing to a strong case for a 50-basis-point reduction also fueled investors’ optimism.

    Expectations for a larger U.S. rate cut stand at 43%, compared with a mere 14% a day earlier, according to CME’s FedWatch tool.

    Traders now look forward to U.S. import prices readings for August at 8:30 a.m. ET, along with domestic wholesale trade data for July.

    Canada’s energy sector was in focus on Friday as oil extended its rally and headed for a weekly gain due to Hurricane Francine disrupting output in the U.S. Gulf of Mexico. [O/R]

    Materials shares were expected to rise as gold prices hit another record high on U.S. rate cut hopes and copper touched a two-week peak amid stimulus hopes in China. [GOL/] [MET/L]

    The TSX composite index hit a record high in the previous session as mining shares gained on higher gold prices.

    In corporate news, TC Energy’s Coastal GasLink pipeline in western Canada had been fined C$590,000 ($434,558) for 10 environmental non-compliance penalties.

    COMMODITIES

    Gold: $2,566.89; +0.32% [GOL/]

    US crude: $69.76; +1.15% [O/R]

    Brent crude: $72.63; +0.92% [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 = 1.3575 Canadian dollars)

    (Reporting by Nikhil Sharma; Editing by Shreya Biswas)



    Source link

    Share this:

    • Click to share on Facebook (Opens in new window) Facebook
    • Click to share on X (Opens in new window) X

    Like this:

    Like Loading...

    Related

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleSavings interest rates today, September 13, 2024 (up to 5.50% APY return)
    Next Article Analyst reacts to news of top Ford executive’s departure
    user
    • Website

    Related Posts

    What’s the point of investing in Vodafone, the FTSE 100’s 31st most valuable stock?

    May 9, 2025

    ‘Britain’s Warren Buffett’ isn’t a fan of UK shares (except this one)

    May 9, 2025

    £10,000 invested in Shell shares 10 years ago is now worth…

    May 9, 2025
    Add A Comment

    Leave a ReplyCancel reply

    © 2025 StockNews24. Designed by Sujon.

    Type above and press Enter to search. Press Esc to cancel.

    %d