Futures linked to Canada’s main stock exchange pointed lower on Tuesday, as investors awaited key upcoming central bank interest rate decisions later this week.
By 06:52 ET (10:52 GMT), the S&P/TSX 60 index standard futures contract had dipped by 3 points, or 0.2%.
Amid a torrid recent rally, the S&P/TSX composite index posted another all-time peak on Monday, sparked by gains in energy and technology shares. The average ended up by 0.5% at 29,431.02, surpassing a record logged on Thursday.
Looming large is a crucial Bank of Canada decision due out on Wednesday, with policymakers seen slashing rates after holding them steady at 2.75% since March.
U.S. futures tick up
U.S. stock futures edged higher Tuesday ahead of the start of the Federal Reserve’s own two-day policy meeting, with investors also buoyed by positive signs from U.S.-China trade talks.
At 06:57 ET, Dow Jones Futures were mostly unchanged, S&P 500 Futures rose 12 points, or 0.2%, and Nasdaq 100 Futures climbed 75 points, or 0.3%.
The main Wall Street indices posted a winning day on Monday, with both the benchmark S&P 500 and tech-heavy NASDAQ Composite notched all-time closing highs. The former finished above the 6,600 level for the first time.
Fed meeting, retail sales in focus
Fed rate cut expectations have been driving much of this rally. Investors are widely expecting the rate-setting Federal Open Market Committee to cut borrowing costs by 25 basis points at the end of its gathering on Wednesday.
