(Reuters) - Futures tied to Canada's main stock index marginally fell on Wednesday, mirroring Wall Street peers, ahead of key U.S. inflation data due later in the day.
December futures on the S&P/TSX index were down 0.07% at 6:04 a.m. ET (11:04 GMT).
Wall Street futures edged lower as an uptick in Treasury yields weighed on rate-sensitive equities. [.N]
Investors are focused on the U.S. consumer price index, due at 8:30 a.m. ET, to gauge the Federal Reserve's policy easing path. Traders see a 63% chance for a 25-basis-point rate cut in the United States next month.
However, markets also assume that President-elect Donald Trump's proposed policies could fuel economic growth and inflation, potentially impeding the path to lower Fed interest rates.
Trump's reelection comes with his proposed tariffs for all imports that could potentially hurt the United States' trade relations, including with Canada.
Canada's energy sector grabbed the limelight on Wednesday as oil prices rose on signs of near-term supply tightness. [O/R]
The materials sector could take its cues from gold prices that rose after falling to a near two-month low in the previous session and copper prices, which touched a two-month low against a stronger U.S. dollar.
The TSX composite index notched a record closing high on Tuesday, boosted by the technology sector after e-commerce firm Shopify reported strong quarterly results.
In corporate news, Suncor Energy raised its quarterly dividend after the integrated oil and gas firm beat estimates for third-quarter profit on higher oil production and demand for refined products.
COMMODITIES
Gold: $2,608.67; +0.44% [GOL/]
US crude: $68.62; +0.73% [O/R]
Brent crude: $72.4; +0.71% [O/R]
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($1 = 1.3955 Canadian dollars)