FX.co ★ TSX Futures Rise Ahead of Nvidia Results

Futures linked to Canada’s S&P/TSX Composite Index experienced an uptick on Wednesday, in anticipation of the much-awaited earnings report from AI leader Nvidia. While the company is projected to announce a robust quarterly performance, investors are particularly scrutinizing whether its results and forward-looking statements can substantiate its hefty valuation and restore confidence in tech stocks after a period of skepticism. Domestically, Metro Inc. declared a fourth-quarter profit of C$217 million, a slight decrease compared to the previous year’s C$219.9 million, primarily due to increased expenses stemming from complications at its frozen food distribution center in Toronto. Meanwhile, gold prices saw a modest increase, driven by safe-haven demand as investors await both the postponed US jobs report and the Federal Reserve’s recent meeting minutes, providing support for Canadian mining companies. Conversely, oil prices fell, exerting pressure on local oil producers.