TSX futures slip on downbeat global mood as treasury yields rise

Jan 10 (Reuters) – Futures for Canada’s main stock index fell on Monday, tracking global markets, as a spike in U.S. Treasury yields fueled concerns about the prospect of higher interest rates.

March futures on the S&P/TSX index were down 0.1% at 7:00 a.m. ET.

Global equities fell on Monday as U.S. Treasury yields reached a new two-year high, while a strong signal from the Federal Reserve last week that it would tighten policy faster to tackle inflation, and then data showing a strong U.S. labour market, unnerved investors.

The Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE) ended 0.06% higher at 21,084.45 on Friday, recording a weekly loss on the first week of the year.

Dow e-minis were down 7 points, or 0.02%, at 7:00 a.m. ET, while S&P 500 e-minis were down 5.5 points, or 0.12%. Nasdaq 100 e-minis were down 50 points, or 0.32%.

Oil prices were largely steady as supply disruptions in Kazakhstan and Libya offset worries stemming from the rapid global rise in Omicron infections.

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ANALYST RESEARCH HIGHLIGHTS

Information Services Corp (ISV.TO): CIBC cuts to “neutral” from “outperform”

Teck Resources Ltd (TECKb.TO): Canaccord Genuity raises to “buy” from “hold”

Turquoise Hill Resources Ltd (TRQ.TO): Canaccord Genuity raises to “hold” from “sell”

COMMODITIES AT 7:00 a.m. ET

Gold futures : $1800.4; +0.17%

US crude : $78.76; +0.16%

Brent crude : $81.67; -0.1%

U.S. ECONOMIC DATA DUE ON FRIDAY

1000 Employment Trends for Dec: Prior 114.49

1000 Wholesale inventory, R mm for Nov: Expected 1.2%; Prior 1.2%

1000 Wholesale sales mm for Nov: Prior 2.2%

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report CA/

Reuters global stocks poll for Canada ,

Canadian markets directory

($1= C$1.26)

Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel

Our Standards: The Thomson Reuters Trust Principles.