Canadian Stock Market Update

(Reuters) – Futures for Canada’s main stock index rose on Tuesday, recovering after a previous decline, supported by increases 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, ending a five-day winning streak, as investor anxiety surged following U.S. President Donald Trump’s harsh criticism of Federal Reserve Chair Jerome Powell for not lowering interest rates.

The President labeled Powell a “major loser” in a social media post, heightening concerns regarding the independence of the central bank.

In commodities, gold prices continued their record ascent, briefly surpassing $3,500 per ounce, reaching an all-time high on Tuesday.

Oil prices also increased as investors sought to mitigate prior losses by covering short positions.

Back home, Prime Minister Mark Carney, who leads in polls ahead of the April 28 election, reiterated his calls on Monday for voters to provide him with a strong mandate to address U.S. President Donald Trump’s tariff threats.

On the economic front, Canadian retail sales data due later this week will shed light on consumer spending trends amid ongoing uncertainty regarding U.S. tariffs.

In corporate news, a U.S. appeals court on Monday reinstated a proposed data privacy class action against Canadian e-commerce giant Shopify (NASDAQ: SHOP).

For Canadian markets news, click on codes:
– TSX market report (TO)
– Canadian dollar and bonds report [CAD/] [CA/]
– Reuters global stocks poll for Canada
– Canadian markets directory