(Reuters) – Futures for Canada’s main stock index rose on Wednesday as robust earnings for National Bank of Canada boosted sentiment, while investors looked ahead to chip giant Nvidia’s quarterly results.
March futures on the S&P/TSX index were up 0.34% at 7.25 a.m. ET (1225 GMT).
National Bank of Canada on Wednesday reported a higher first-quarter profit helped by robust performance in its wealth management unit.
The earnings come at the heels of Bank of Nova Scotia and Bank of Montreal’s results which beat analysts’ expectations for quarterly profit.
Nvidia’s after-hours results remain in focus as investors scrutinize AI spending levels, particularly after January’s market jitters triggered by China’s DeepSeek announcing low-cost competition.
Meanwhile, global market sentiment is buoyed as U.S. President Donald Trump’s $4.5 trillion tax-cut and border security agenda will be sent to the U.S. Senate after passing the Republican-controlled House of Representatives.
Back home, a Reuters poll found TSX is set to reach a new record high by the end of 2025, helped by lower borrowing costs, but an uncertain outlook for global trade could limit gains and potentially trigger a correction.
The benchmark index gained on Tuesday, with robust bank earnings offsetting oil price declines.
Among commodities, copper prices were slightly higher in the day, though there was caution after Trump ordered a probe into potential new tariffs on copper imports.[MET/L]
Gold prices held steady following a 2% decline in the previous session.[GOL/]
Oil prices were also flat as a potential peace deal between Russia and Ukraine continued to weigh on prices while lower U.S. crude stockpiles provided some support.
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(Reporting by Ragini Mathur in Bengaluru; Editing by Sahal Muhammed)
