Equities
World markets hovered in positive territory ahead of expected interest rate cuts by the Bank of Canada later this morning and the European Central Bank tomorrow. Traders are eyeing 25-basis-point cuts from both central banks.
Wall Street futures were up following soft U.S. labour market data that firmed up bets of a September rate cut by the Federal Reserve.
TSX futures also pointed higher after Canada’s main stock index retreated yesterday, weighed down by commodity-linked stocks.
Investors will be watching for earnings from Vancouver-based Lululemon Athletica Inc. and U.S. companies Dollar Tree Inc. and North West Co. Inc.
“A 25 [basis point] cut from the BoC could throw a floor under the recent pullback in Canadian stocks, while the ECB’s 25bp cut may not suffice to cheer up investors depending on what the chief Christine Lagarde says at her press conference regarding the bank’s position concerning further cuts,”…
