Dec 2 (Reuters) - Futures for Canada's main stock index inched higher on Tuesday following a tech-led selloff a day earlier, while investors looked ahead to the week's bank earnings for insights on the domestic economy.
December futures tracking the S&P/TSX index rose 0.08% to 1826.4 points by 06:21 a.m. ET.
Toronto's main stock index (.GSPTSE), fell 0.9% on Monday, snapping a six-day winning streak that had pushed it to record highs, as technology stocks suffered losses.
Kicking off the bank earnings week, Bank of Nova Scotia (BNS.TO), reported a rise in fourth-quarter profit, helped by higher interest income.
Investors are awaiting results from the rest of the big six Canadian banks — Royal Bank of Canada (RY.TO), TD Bank (TD.TO), BMO (BMO.TO), CIBC (CM.TO), and National Bank (NA.TO). The six banks have gained nearly 31% on average this year, compared with a 26% rise in the broader index.
Global stocks have recently been buoyed by growing odds of a U.S. interest rate cut in December following mixed economic data and dovish comments from some Federal Reserve policymakers.
Data on Monday showed U.S. manufacturing contracted for a ninth straight month in November. Traders now see an 87.2% probability of a December cut, according to CME Group's FedWatch tool.
Gold fell about 1%, pressured by investors who booked profits after prices hit a six-week high, while Brent crude slipped due to geopolitical risks to supply, weighing on the commodity-heavy index.
In other corporate news, life insurer Sun Life Financial (SLF.TO), announced it will issue $1 billion worth of debentures in Canada, while the Bank of Canada upgraded the price target on planemaker Bombardier (BBDb.TO), to C$263 from C$234.
By Avinash P in Bengaluru; Editing by Sahal Muhammed
