CANADA STOCKS-TSX futures fall as commodity prices dip, US government shutdown looms

Sept 30 (Reuters) – Futures tied to Canada's resource-heavy main stock index fell on Tuesday as oil and metal prices declined, while investors weighed the implications of a potential U.S. government shutdown that could disrupt critical economic data releases. Futures on the S&P/TSX index were down 0.2% at 7 a.m. ET (1100 GMT). Wall Street futures also declined after U.S. Vice President JD Vance warned that the government appeared "headed to a shutdown" following stalled budget negotiations between President Donald Trump and the Democratic leadership. A government closure would delay Friday's crucial U.S. employment report, potentially complicating the Federal Reserve's monetary policy outlook. Market attention now shifts to the U.S. Labor Department's August job openings report, scheduled for later in the day. Investors are hoping for moderate readings that would preserve rate-cut expectations and sustain the ongoing equity rally. The Toronto Stock Exchange's S&P/TSX composite index reached another record high on Monday as investors who are upbeat on prospects for the global economy cheered the index's heavy weighting in cyclical stocks. The benchmark index is poised to close both September and the third quarter with robust gains. In the commodities sector, gold prices retreated as investors locked in profits following an earlier push to record highs. Copper similarly dipped on profit-taking after reaching a 15-month peak last week, while oil prices fell in anticipation of increased production from OPEC+. In corporate developments, Canadian oil producer Imperial Oil said on Monday it would cut its workforce by about 20% by the end of 2027, part of a major restructuring that would eventually shutter most of its presence in Calgary. FOR CANADIAN MARKETS NEWS, CLICK ON CODES: TSX market report Canadian dollar and bonds report Reuters global stocks poll for Canada Canadian markets directory (Reporting by Ragini Mathur in Bengaluru; Editing by Shreya Biswas)

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