Futures for Canada's main stock index fell on Tuesday as investors turned cautious after hotter-than-expected domestic producer prices data raised the risk of an upside surprise to the inflation data later in the day.
The TSX Composite slid 11.97 points to face the closing bell Monday at 21,847.87.
March futures sank 0.2% Tuesday.
The Canadian dollar fell 0.18 cents 73.76 cents U.S.
On the economic slate, Statistics Canada says the Consumer Price Index (CPI) rose 2.8% on a year-over-year basis in February, down from a 2.9% gain in January. On a seasonally adjusted monthly basis, the CPI rose 0.1% in February.
ON BAYSTREET
The TSX Venture Exchange gave back 1.58 points Monday to 549.32.
ON WALLSTREET
Stock futures fell Tuesday as traders took in the latest announcements from Nvidia’s artificial intelligence conference. Wall Street also turned its eyes to Washington as the Federal Reserve kicked off its two-day policy meeting.
Futures for the Dow Jones Industrials slid 81 points, or 0.2%, to 39,142.
Futures for the S&P 500 fell back 24.5 points, or 0.5%, to 5,190.25.
Futures for the NASDAQ Composite dropped 127 points, or 0.7%, to 18,104.50.
Chip darling Nvidia pulled back roughly 2% in premarket trading, as investors evaluate the news from its first-ever GTC Conference. CEO Jensen Huang unveiled Nvidia’s latest AI chip, labeled Blackwell, which he touted as a significantly more powerful successor to its chips that power a multitude of AI operations. Despite its premarket pullback, the stock is still up more than 78%.
Wall Street is also awaiting guidance on the path forward for monetary policy as the Federal Reserve begins its two-day policy meeting on Tuesday.
In Japan, the Nikkei 225 took on 0.7% Tuesday to surmount the psychologically-important 40K mark, while in Hong Kong, the Hang Seng index slid 1.2%.
Oil prices increased 10 cents to $82.82 U.S. a barrel.
Gold prices slipped $4.50 to $2,159.80 U.S. an ounce.
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