TSX futures slide on lower crude oil prices and domestic bank earnings By Reuters

(Reuters) – Futures on Canada’s main stock index fell on Tuesday, dragged down by lower crude oil prices as investors reacted to tough quarterly results from major domestic lenders.

September S&P/TSX futures were down 0.2 percent at 6:24 a.m. ET (10:24 a.m. GMT).

The focus remained on major Canadian banks, including Bank of Nova Scotia and Bank of Montreal, which reported a drop in profit in the third quarter as they had to set aside more funds to cover non-performing loans.

Bank earnings are expected to keep investors intrigued throughout the week with highly anticipated gains from Royal Bank of Canada, National Bank of Canada (OTC:) and Canadian Imperial Bank of Commerce.

Canada’s energy sector will be in the spotlight as oil prices eased after rising more than 7% in the past three sessions on supply woes fueled by fears of an escalating Middle East conflict. (OR)

The materials sector was also set to gain attention as gold prices fell, while prices hit a near six-week high on optimism about a US interest rate cut in September. (GOL/) (MET/L)

The Toronto Stock Exchange’s S&P/TSX composite ended at a record close on Monday on strong gains in energy stocks, while investors also celebrated the Fed chairman’s approval of the start of the U.S. policy easing cycle United.

Markets are widely betting on a 25 basis point cut at the US central bank’s policy meeting next month.

Traders also eagerly awaited AI-darling Nvidia’s (NASDAQ: ) quarterly earnings on Wednesday.

Back home, the Canadian government said it would impose a 100 percent tariff on Chinese electric vehicle imports, along with a 25 percent tax on steel and aluminum imported from China.

commodities

Gold: $2,508.5; -0.3% (AUR/)

US crude: $76.81; -0.8% (O/R)

: $80.92; -0.6% (O/R)

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($1 = 1.3466 Canadian dollars)