(Reuters) -Futures for Canada’s main stock index rose on Tuesday, bouncing back after the index tumbled in the previous session, boosted by gains in commodity prices.
June futures on the S&P/TSX index were up 1% at 7.23 a.m. ET (1123 GMT).
The Toronto Stock Exchange fell on Monday, snapping its five-day winning streak, as investors were jittery after U.S. President Donald Trump’s scathing attack on Federal Reserve Chair Jerome Powell for not cutting interest rates.
The President called Powell a “major loser” in a social media post on Monday, which raised concerns about the independence of the central bank.
In commodities, gold prices continued their record run and briefly broke above $3,500 per ounce to an all-time high on Tuesday.
Oil prices also rose as investors took advantage of the previous day’s losses to cover short positions.
Back home, Prime Minister Mark Carney, ahead in polls in the run-up to an April 28 election, renewed calls on Monday for voters to give him a strong mandate to deal with U.S. President Donald Trump’s tariff threats.
On the economic front, Canadian retail sales data later this week will offer insights into consumer spending patterns amid the uncertainty around U.S. tariffs.
In corporate news, a U.S. appeals court on Monday revived a proposed data privacy class action against Canadian e-commerce giant Shopify.
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(Reporting by Ragini Mathur; Editing by Sahal Muhammed)
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