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TSX Futures Muted Ahead of U.S. Fed Decision

Inflation Figures Out in Canada

Futures for Canada's main stock index were subdued on Tuesday as investors awaited domestic inflation data for more clues on Bank of Canada's interest-rate path, while also debating U.S. Federal Reserve's likely interest rate decision on Wednesday.

The TSX Composite Index dumped 129.51 points to conclude Monday at 20,492.83, off its lows of the afternoon.

September futures advanced 0.1% Tuesday.

The Canadian dollar gained 0.42 cents to 74.55 cents U.S.

Canada's Trans Mountain oil pipeline expansion, which will nearly triple the flow of crude from Alberta to Canada's Pacific Coast, will shake up North America's supply by diverting barrels now mainly delivered to refiners and exporters in the U.S. Midwest and Gulf Coast.

Energy companies such as Imperial Oil and Suncor were in the spotlight Tuesday before the opening bell.

On the economic schedule, Statistics Canada said the Consumer Price Index (CPI) rose 4.0% on a year-over-year basis in August, following a 3.3% increase in July. On a seasonally adjusted monthly basis, the CPI rose 0.6% in August.


The TSX Venture Exchange squeezed ahead 0.31 points Monday to 591.09.


Stock futures traded near flat on Tuesday as Wall Street readied for the start of the Federal Reserve’s two-day September policy meeting.

Futures for the Dow Jones Industrials struggled to gains of 24 points, or 0.1%, to 34,959.

Futures for the S&P 500 gained 3.75 points, or 0.1%, at 4,505.25.

Futures for the NASDAQ acquired 6.5 points to 15,421.

The Fed is not expected to raise rates this week, with traders pricing in a 99% probability that the central bank skips a hike. Traders are putting just a 29% chance of a hike in November as of early Tuesday.

Six of the 11 major S&P sectors finished Monday’s session positive, led by energy, with a 0.7% gain. Consumer discretionary was the worst-performing sector, falling about 1%.

Wall Street will parse through a light batch of economic data Tuesday, with preliminary building permits for August and housing starts due out before the bell. AutoZone is slated to report earnings before the bell.

In Japan, the Nikkei 225 flopped 0.9% Tuesday, while in Hong Kong, the Hang Seng bucked the Asian trend and gained 0.4%

Oil prices rumbled higher $1.07 to $92.55 U.S. a barrel.

Gold prices prospered $4.50 to $1,957.90.