TSX futures slip on weaker crude prices

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TSX futures slip on weaker crude prices

TSX futures slip on weaker crude prices
Image source: © Johnkwan | Megapixl.com

Highlights

  • Futures for Canada's main stock index fell on Tuesday.
  • June futures on the S&P/TSX index were down 0.4% at 6:50 am ET.
  • US crude and global benchmark Brent crude both fell 0.3% a barrel.

Futures for Canada's main stock index fell on Tuesday, dragged down by weaker crude prices, while sentiment remained fragile ahead of US inflation data and a European Central Bank meeting this week on concerns over monetary policy tightening.

Also Read: Can Cenovus (TSX: CVE) be next Suncor as it restarts West White Rose?

June futures on the S&P/TSX index were down 0.4% at 6:50 am ET.

US crude and global benchmark Brent crude both fell 0.3% a barrel.

Canada's trade surplus is expected to have risen to C$2.90 billion ($2.31 billion) in April, from C$2.49 billion in March, data due at 08:30 am ET will show. The country's Ivey PMI for May is also scheduled for release.

Also read: 2 TSX dividend stocks to buy as BoC hikes rates again: CM and SLF

The Toronto Stock Exchange's S&P/TSX composite index ended 0.1% higher at 20,819.09 on Monday, after giving back much of its earlier advance.

Dow e-minis were down 137 points, or 0.42% at 6:50 am ET, while S&P 500 e-minis were down 19 points, or 0.46% and Nasdaq 100 e-minis were down 81.75 points, or 0.65%.

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