Futures linked to Canada’s main stock exchange inched higher on Tuesday, after intensifying bets on a U.S. interest rate cut helped support the average in the prior session.
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The S&P/TSX composite index jumped 0.97% at 296 points at 30,900.65.
Index gained by 443.70 points to end at 30,604.35 on Monday. It was the index’s highest closing level since November 12.
Along with a boost from the start of the key U.S. shopping season, the average was aided by an uptick in gold prices, which inspired a climb in the wider materials group, including metal mining shares. A gauge of the broader technology sector also advanced by 5.5%.
U.S. stock gains
U.S. stocks gains even as investors bank some of the previous session’s gains ahead of a batch of key economic data that could influence Federal Reserve policy.
The Dow Jones Industrial Average gained 666 points, or 1.42%, while the S&P 500 index gained 0.89%, and the NASDAQ Composite added 0.67%.
The main averages on Wall Street advanced on Monday, with sentiment boosted by comments from Fed policymakers which underpinned hopes for a rate cut at the central bank’s upcoming meeting in December.
The broad-based S&P 500 gained almost 1.6%, the tech-heavy NASDAQ Composite jumped 2.7%, recording its best day since May 12, and the blue chip Dow Jones Industrial Average closed 0.4% higher.
