Canadian stock futures steady after record as oil prices hold flat

Futures tracking Canadian stocks were little changed on Tuesday after the market hit a record in the previous session, with energy prices failing to extend a rebound. Oil traded near flat after a spokesperson for Qatar’s foreign ministry said negotiations between Oman and Iran were at an advanced stage, raising hopes for progress toward an agreement. Investors are now looking to Wednesday’s July US consumer price index, a key inflation gauge that could shape expectations for the Federal Reserve’s policy path. In Canada, strong domestic labor data released last week kept the possibility of a hawkish BoC (Bank of Canada, the country’s central bank) on the table. Among individual names, Franco Nevada was in focus ahead of earnings due after the bell, while markets continued to absorb Barrick’s earnings report from Monday.

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