(Reuters) – Futures for Canada’s main stock index dipped in low trading volumes on Wednesday as oil prices receded, while investors awaited more cues on the future path of rate cuts in the U.S. and Canada.
June futures on the S&P/TSX index were down 0.1% at 6:53 a.m. ET (10:53 GMT).
Trading is expected to be muted throughout the day as the U.S. markets are closed.
On the TSX, materials stocks are likely to see another day of gains as copper prices were supported by ore supply shortages and a soft U.S. dollar, but gains were capped by Chinese demand concerns. [MET/L]
On the flip side, energy stocks were poised for declines on easing oil prices, as the market weighed concerns about escalating conflicts against demand worries from rising U.S. crude inventories. [O/R]
The Toronto Stock Exchange’s S&P/TSX composite index ended 0.1% higher on Tuesday, buoyed by resources shares, as it snapped a three-session losing streak. [.TO]
The benchmark…
