Aug 27 (Reuters) - Futures linked to Canada's main stock index fell on Tuesday, dragged by declines in crude prices, while investors reacted to dour quarterly results from major domestic lenders.
September futures on the S&P/TSX index were down 0.2% at 6:24 a.m. ET (10:24 GMT).
The spotlight remained on major Canadian banks, including the Bank of Nova Scotia (BNS.TO), and Bank of Montreal (BMO.TO), that reported a fall in third-quarter profit as they had to set aside larger funds to cover bad loans.
Bank earnings are expected to keep the investors intrigued throughout the week with highly anticipated earnings from the Royal Bank of Canada (RY.TO), National Bank of Canada (NA.TO), and the Canadian Imperial Bank of Commerce (CM.TO).
Canada's energy sector will be in focus as oil prices slipped after soaring over 7% in the previous three sessions on supply issues driven by fears of widening Middle East conflict.
The materials sector was also set to grab the spotlight as gold prices declined, while copper prices notched a near six-week high due to optimism over a U.S. interest rate cut in September.
The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE), ended at a record closing high on Monday on major gains in energy stocks, while investors also celebrated the Fed Chair's endorsement of the beginning of the policy easing cycle in the United States.
Markets are widely betting on a 25-basis point cut at the U.S. central bank's policy meeting next month.
Traders also keenly awaited the quarterly earnings of AI-darling Nvidia (NVDA.O), due on Wednesday.
Back home, the Canadian government said it would impose a 100% tariff on imports of Chinese electric vehicles, along with a 25% levy on imported steel and aluminum from China.
COMMODITIES
Gold : $2,508.5; -0.3% GOLD/
US crude : $76.81; -0.8%
Brent crude : $80.92; -0.6%
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($1 = 1.3466 Canadian dollars)
Reporting by Nikhil Sharma in Bengaluru; Editing by Vijay Kishore
