May 2 (Reuters) - Futures for Canada's main stock index fell on Tuesday as crude prices dropped, while investors remained wary ahead of the U.S. Federal Reserve's interest rate decision this week.
June futures on the S&P/TSX index were down 0.4% at 6:51 a.m. ET.
Oil prices extended losses from the previous session, as weak economic data from China weighed on the market.
Adding to the pressure, U.S. stock index futures edged lower ahead of the Fed's policy meeting and as uncertainty around the U.S. debt ceiling talks spooked investors.
The U.S. central bank is expected to deliver a 25-basis-point interest rate increase at the end of its meeting on Wednesday and then hold rates steady for the rest of 2023, according to economists in a Reuters poll.
The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended lower on Monday, dragged down by energy and rate-sensitive real estate and technology stocks.
In company news, technology company BlackBerry (BB.TO) said it would conduct a review of strategic alternatives, which include the possible separation of one or more of its businesses.
Restaurant Brands International Inc (QSR.TO) beat estimates for quarterly revenue, boosted by higher prices and increased traffic at its Burger King and Tim Hortons chains.
Thomson Reuters Corp (TRI.TO) reported higher sales and operating profit in the first quarter, helped by divestitures and high customer retention rates.
COMMODITIES AT 6:51 a.m. ET
Gold futures : $1,996.1; +1.0%
US crude : $75.16; -0.66%
Brent crude : $78.84; -0.59%
U.S. ECONOMIC DATA DUE ON TUESDAY
Factory Orders for March at 10:00 a.m. ET
JOLTS Job Openings for March at 10:00 a.m. ET
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report CA/
Reuters global stocks poll for Canada ,
Canadian markets directory
($1 = 1.3578 Canadian dollars)
