(Reuters) – Futures linked to Canada’s main stock index rose on Thursday as crude and metal prices gained, a day after softer U.S. inflation data reinforced hopes for a rate cut by the Federal Reserve next month.
September futures on the S&P/TSX index were up 0.2% at 6:08 a.m. ET (10:08 GMT). The composite index closed higher the previous day after in-line U.S. CPI data.
Wall Street futures were also up after the S&P 500 registered its fifth winning round in the previous session. [.N]
The Canadian materials sector was poised to rise after gold prices climbed against a weaker U.S. dollar and Treasury yields, while gains in copper prices also lent support. [GOL/] [MET/L]
The energy sector was expected to inch up as oil prices gained on higher possibility of a U.S. rate cut that can boost economic activity and fuel consumption. [O/R]
Investors will now focus on the U.S. retail sales numbers and initial jobless claims data, due at 8:30 a.m….
