Dec 8 (Reuters) – Futures for Canada’s main stock index were little changed on Monday as investors awaited the outcome of the Bank of Canada and the U.S Federal Reserve’s policy meetings later in the week.
Futures on the S&P/TSX Composite Index were flat as of 05:49 a.m. ET.
Toronto’s S&P/TSX Composite Index ended down 0.5% on Friday, pulling back from a record high in the prior session as investors took profits amid optimism fueled by domestic jobs data. The index, however, ended the week lower.
Stronger-than-expected jobs data has cemented expectations of the BoC holding rates. Currently, 97% of traders expect the central bank to hold later this week, with rates expected to increase in 2026, according to a Reuters poll. The BoC has eased the borrowing rate by one percentage point since the start of the year.
In the U.S., the Fed is widely seen as cutting interest rates in December’s meeting, aiding global investor risk appetite recently. Markets price in an 86% chance of a quarter-point cut, according to LSEG data.
Energy stocks could be in focus at market open with oil prices hovering at two-week highs on a likely Fed interest rate cut this week, lifting economic growth and energy demand.
Gold also gained on rate cut expectations that pressured the dollar.
Among corporate updates, Anglo American said it withdrew a proposal to change executive directors’ bonus awards from a shareholder vote on its merger with Canada’s Teck Resources, after investors raised concerns about the policy. Teck shareholders are scheduled to vote on the merger on December 9.
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory (Reporting by Avinash P in Bengaluru; Editing by Vijay Kishore)
