Jan 8 (Reuters) - Futures tied to Canada's main stock index struggled to find direction on Wednesday, after a report said U.S. President-elect Donald Trump was considering declaring a national economic emergency to allow for a new tariff program.
March futures on the S&P/TSX index were down 0.07% as of 6:55 a.m. ET (1155 GMT).
U.S. stock index futures fell on Wednesday following the CNN report.
Market participants remain concerned whether Trump, set to take office on Jan. 20, would go through with his rhetoric of imposing a 25% tariff on imports from Canada.
Canada sends a majority of its exports to the U.S., including energy products.
Gold prices edged higher in the day due to risks stemming from Trump's tariff plans, while copper made modest gains.
Oil prices , gained as supplies from Russia and OPEC members tightened.
Investors are also bracing for potential political uncertainty after Canadian Prime Minister Justin Trudeau said he plans to resign in the coming months, bowing to pressure from lawmakers alarmed by his Liberal Party's unpopularity.
Besides, focus is on the U.S. ADP National Employment Report for December and weekly jobless claims data, both due later in the day. Key nonfarm payrolls numbers in the U.S. are scheduled to be released on Friday.
Minutes from the U.S. Federal Reserve's December meeting is due at 2:00 p.m. ET.
Back home, the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE), ended lower for a second straight day on Tuesday, as a jump in U.S. government borrowing costs hurt investor sentiment.
U.S. stocks tumbled on Tuesday after upbeat economic data raised concerns that a rebound in inflation could slow the pace of interest-rate cuts
In corporate news, Calibre Mining (CXB.TO), announced fourth-quarter gold production figures.
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
Reporting by Ragini Mathur in Bengaluru; Editing by Sahal Muhammed
