TSX futures fall on recession concerns, U.S.-China tensions
2022.08.02 16:05
FILE PHOTO: Monitors display the stock market numbers in the financial district in Toronto, Ontario, Canada March 16, 2020. REUTERS/Carlos Osorio
(Reuters) – Futures for Canada’s main stock index fell on Tuesday as oil and metal prices declined on recession fears, while U.S. House of Representatives Speaker Nancy Pelosi’s expected visit to Taiwan dented sentiment further.
Investors also awaited manufacturing data for Canada due at 9:30 a.m. ET to gauge the pace of the country’s economic growth.
September futures on the resource-heavy S&P/TSX index were down 0.8% at 7:15 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index ended July 4.4% higher as company earnings impressed investors, and preliminary data showed a more-than-expected growth in the Canadian economy in the second quarter. (TO)
Toronto markets were closed on Monday for a holiday.
Energy and metal prices fell on tensions between China and the United States and as weak factory data across the United States, Europe and Asia pushed investors to safer assets. [O/R] [MET/L]
Meanwhile, U.S. futures fell on Tuesday amid a broader risk-off mood across the global markets on concerns that Pelosi’s trip to Taiwan could increase tensions between China and the United States.
Dow e-minis were down 194 points, or 0.59% at 07:15 a.m. ET, while S&P 500 e-minis were down 27.25 points, or 0.66% and Nasdaq 100 e-minis were down 99.5 points, or 0.77%. [.N]
