Toronto futures flat tracking global sentiment – SaltWire Network

(Reuters) – Futures for Canada’s main stock index were subdued on Tuesday, tracking global mood as investors remained on the sidelines before a reading on U.S. inflation later this week.

December futures on the S&P/TSX index were up 0.02% at 7:00 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index ended 0.5% higher at 21,556.54 on Monday, hitting a record high. [.TO]

Global equities were flat on Tuesday but stayed near record highs as investors were reluctant to commit further to the rally before getting a clearer picture of the surge in U.S inflation. [MKTS/GLOB]

Energy stocks were poised to open higher as oil rose for a third session, with the U.S. removing travel restrictions and more signs of a global post-pandemic recovery lifting the demand outlook. [O/R]

The Canadian equity index scaled record highs in recent weeks, shaking off an initial dip, as higher commodity prices and upbeat corporate earnings bolstered appetite for risky assets.

Dow e-minis were down 24 points, or 0.07% at 7:00 a.m. ET, while S&P 500 e-minis were up 1.5 points, or 0.03% and Nasdaq 100 e-minis were up 34.25 points, or 0.21%. [.N]

TOP STORIES [TOP/CAN]

Canada’s oil sands are inching toward record production, as the country’s biggest producers squeeze more barrels out of existing assets, but they are holding back on big spending despite some of the highest oil prices in seven years

ANALYST RESEARCH HIGHLIGHTS [RCH/CA]

Benchmark Metals Inc: Cormark Securities raises to top pick from buy

Enerflex Ltd: CIBC cuts target price to C$10 from C$12

Loblaw Companies Ltd: CIBC raises target price to C$106 from C$96

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,127.7; -+1.0% [GOL/]

US crude: $46.39; -+0.64% [O/R]

Brent crude: $49.85; -+0.6% [O/R]

U.S. ECONOMIC DATA DUE ON TUESDAY

0600 NFIB Business Optimism Index for Oct : Prior 99.10

0830 PPI Machine Manufacturing for Oct : Prior 151.3

0830 PPI final demand yy for Oct : Expected 8.7%; Prior 8.6%

0830 PPI final demand mm for Oct : Expected 0.6%; Prior 0.5%

0830 PPI exfood/energy yy for Oct : Expected 6.8%; Prior 6.8%

0830 PPI exfood/energy mm for Oct : Expected 0.5%; Prior 0.2%

0830 PPI ex food/energy/transport yy for Oct : Prior 5.9%

0830 PPI ex food/energy/transport mm for Oct : Prior 0.1%

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report [.TO]

Canadian dollar and bonds report [CAD/] [CA/]

Reuters global stocks poll for Canada

Canadian markets directory

($1= C$1.24)

(Reporting by Amal S in Bengaluru; Editing by Krishna Chandra Eluri)