Market participants will keep a close eye on U.S. April consumer price index (CPI) data due at 08:30 a.m. ET that could influence the outlook for Federal Reserve's policy tightening, with cuts in interest rate expected later this year.
Base and precious metals traded lower, while oil prices fell after a surprise rise in U.S. oil inventories in the possible sign of weakening demand. [MET/L] [GOL/] [O/R]
June futures on the S&P/TSX index were down 0.2% at 7:23 a.m. ET.
Among company news, payments tech firm Nuvei Corp beat expectations for its first-quarter revenue.
Brokerage Scotiabank resumed coverage of digital healthcare firm WELL Health Technologies Corp with a sector "outperform" rating.
Investors also await domestic March building permits data due later in the data, which is expected to fall 2.9%, as per a Reuters poll, from an 8.6% rise in the month previous.
In the previous session, the Toronto Stock Exchange's S&P/TSX composite index ended 0.5% up aided by gains in the energy and industrial sectors stocks. [.TO]
Dow e-minis were down 53 points, or 0.16% at 7:23 a.m. ET, while S&P 500 e-minis were down 4.25 points, or 0.1% and Nasdaq 100 e-minis were down 6.5 points, or 0.05%. [.N]
COMMODITIES AT 7:23 a.m. ET
Gold futures: $2,029; -0.24% [GOL/]
US crude: $72.84; -1.18% [O/R]
Brent crude: $76.57; -1.12% [O/R]
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report [.TO]
Canadian dollar and bonds report [CAD/] [CA/]
Reuters global stocks poll for Canada
Canadian markets directory
($1 = 1.3372 Canadian dollars)
(Reporting by Vansh Agarwal and Johann M Cherian in Bengaluru; Editing by Shweta Agarwal)
