(Reuters) -Futures tracking Canada’s main stock index edged down on Thursday, mirroring Wall Street’s moves, as investors avoided risk ahead of the U.S. Federal Reserve’s three-day Jackson Hole symposium.
The futures on the S&P/TSX index fell 0.09% by 05:33 a.m. ET (0933 GMT), while futures linked to Wall Street’s benchmark S&P 500 also slipped 0.09%.
The annual Fed conference begins later on Thursday and will host central bankers from around the world; investors will watch Fed Chair Jerome Powell’s speech on Friday for clues to upcoming monetary policy moves.
A deteriorating labor market and President Donald Trump’s efforts to shake up Fed leadership have raised expectations for U.S. policy easing.
Gold prices slipped as traders awaited Powell’s remarks. Copper prices also slipped alongside other base metals. [GOL/] [MET/L]
Oil prices rose due to signs of strong demand in the United States and uncertainty over efforts to end the war in Ukraine. [O/R]
Meanwhile, domestic investors will parse July producer price data due at 8:30 a.m. ET. The release follows a softer inflation report earlier this week, which bolstered expectations that the Bank of Canada will resume its rate-cutting cycle.
The Canadian central bank has kept the benchmark rate unchanged at 2.75% since March. Traders see at least one rate cut later this year.
U.S. business activity data is also due on the day.
In corporate news, Corby Spirit and Wine reported an 8% growth in fourth-quarter revenue.
On Wednesday, gains in commodity-linked stocks helped the S&P/TSX composite index end slightly higher, countering losses in technology shares.
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($1 = 1.3880 Canadian dollars)
(Reporting by Nikhil Sharma; Editing by Sahal Muhammed)
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