FX.co ★ TSX Futures Steady After Record High

Futures linked to the S&P/TSX Composite Index remained steady on Wednesday, maintaining the record high achieved the previous day. This stability was driven by anticipation of an interest rate reduction by the Federal Reserve, alongside increased domestic infrastructure investment bolstering risk appetite. Earlier this month, Canadian Prime Minister Mark Carney committed approximately C$280 billion over five years towards infrastructure and initiatives aimed at enhancing productivity and competitiveness. Concurrently, gold prices increased as solid expectations for upcoming Fed rate cuts supported the Canadian mining sector. In corporate developments, at least three brokerages increased their target price for Alimentation Couche-Tard following the convenience store operator's report of surpassing second-quarter profit expectations.