TSX futures flat ahead of Nvidia’s quarterly results

(Reuters) – Futures tied to Canada’s main stock index were muted on Wednesday as investors avoided big bets ahead of chipmaker Nvidia (NASDAQ:)’s quarterly results later in the day.

December futures on the S&P/TSX index were up 0.02% at 6:04 a.m. ET (11:04 GMT).

Nvidia’s third-quarter results, due after the bell, are expected to cause significant volatility in the markets, with options markets primed for a nearly $300 billion swing in the AI darling’s market value in either direction.

Wall Street futures were also little changed. [.N]

Canada’s energy sector could take cues from oil prices that steadied as supply concerns stemming from the escalating Russia-Ukraine war offset data showing rising stocks. [O/R]

The materials sector also grabbed attention as gold prices eased against a firm dollar, though safe-haven demand linked to the Russia-Ukraine tensions helped cap further losses. prices inched up for a fourth session. [GOL/] [MET/L]

Investors were focused on the geopolitical tensions in Europe, especially after Reuters reported Russian President Vladimir Putin was open to discussing a Ukraine ceasefire deal with U.S. President-elect Donald Trump.

The TSX composite index ended higher on Tuesday as investors weighed the Russia-Ukraine war and hotter-than-expected domestic inflation data.

Canada’s annual inflation rate rose to 2% in October, which triggered traders to trim their bets for an outsized interest-rate cut by the Bank of Canada in December.

Market participants widely expect a quarter-point cut next month.

In corporate news, Fairfax Financial announced it intends to offer C$450 million in senior notes due 2034 and C$250 million in senior notes due 2054.

COMMODITIES

Gold: $2,625.06; -0.25% [GOL/]

US crude: $69.74; +0.5% [O/R]

: $73.42; +0.15% [O/R]

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($1 = 1.3992 Canadian dollars)