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September futures on the S&P/TSX index was flat at 1,185.50
points at 7:10 a.m. ET.
Canadian stocks have rallied along with its global counterparts
in recent weeks after being hit by geopolitical uncertainty and
central bank interest rate hikes to tackle soaring inflation.
The Toronto Stock Exchange's S&P/TSX composite index ended up
49.04 points, or 0.25%, at 19,669.17, on Monday after touching
its highest intraday level since mid-June at 19,768.01.
Investor sentiment was cautious on the day ahead of a key U.S.
inflation reading on Wednesday. A higher reading could fuel bets
of more aggressive interest rate hikes by the Federal Reserve,
underscoring that inflation may not have come under control.
Canada is expected to report on its inflation figures next week.
Brent crude and WTI futures edged higher following reports of
Russia suspending oil exports. Earlier, oil futures slipped on
chances of a supply boost following progress in talks to revive
the 2015 Iran nuclear deal. [O/R]
On Wall Street, Dow e-minis were up 18 points, or 0.05% at 7:05
a.m. ET, while S&P 500 e-minis were down 5 points, or 0.12% and
Nasdaq 100 e-minis were down 57 points, or 0.43%. [.N]
(Reporting by Johann M Cherian in Bengaluru; Editing by Shailesh
Kuber)
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