TSX futures jump on higher fiscal spending hopes, oil boost
- Canada's Liberal government will deliver on its promise to spend big when it presents its first budget in two years next week amid a fast-rising third wave of COVID-19 infections and ahead of an election expected in the coming months.
- The Toronto Stock Exchange's S&P/TSX composite index ended 0.1% lower at 19,203.7 on Tuesday.
Futures for Canada's main stock index gained on Wednesday as investors expect fiscal stimulus measures that will be announced next week to be huge, while a jump in oil prices supported the commodity-heavy index.
Canada's Liberal government will deliver on its promise to spend big when it presents its first budget in two years next week amid a fast-rising third wave of COVID-19 infections and ahead of an election expected in the coming months.
June quarter futures on the S&P/TSX index were up 0.4% at 7:00 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index ended 0.1% lower at 19,203.7 on Tuesday.
Dow Jones Industrial Average e-mini futures were down 0.1% at 7:00 a.m. ET. S&P 500 e-mini futures gained 0.1% and Nasdaq 100 e-mini futures were up 0.2%.
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Crude oil prices jumped on revised oil demand forecasts on Wednesday despite concerns over rising coronavirus cases and vaccine rollouts.
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