FX.co ★ TSX Futures Slip Ahead of Nvidia Results and New US Data

Futures for Canada's S&P/TSX Composite Index experienced a slight decline, reflecting a cautious stance shared by global markets as investors awaited U.S. economic data and quarterly earnings from AI leader Nvidia. These upcoming results from Nvidia are anticipated to provide further clarity on AI investment trends and the demand for data centers, factors that have bolstered North American stocks this year but faced notable scrutiny recently. Furthermore, the lessened likelihood of an immediate interest rate cut by the Federal Reserve added to the cautious market sentiment. Concurrently, gold prices fell, adversely affecting major Canadian mining companies, most of whom reported losses in the previous trading session. Conversely, oil prices experienced mild gains, offering some relief to local producers.