March futures on the S&P/TSX index were down 0.1% at 7:24 a.m. ET (12:24 GMT).

Wall Street futures were also muted ahead of earnings from many pharma companies and commentary from Federal Reserve officials. [.N]

Energy stocks on the TSX could snap their four-day losing streak as oil prices steadied ahead of U.S. diplomat Antony Blinken's Middle East trip, as investors waited to see if it could halt tensions in the region, that has raised supply concerns. [O/R]

Material-related shares could also see a rebound on copper prices edging higher, supported by top metals consumer China's efforts to stabilise its markets. Meanwhile, gold traded flat. [GOL/] [MET/L]

Investors will look forward to key domestic employment data due later in the week for indicators on the Bank of Canada's (BoC) monetary policy path.

The Canadian central bank left its key overnight rate unchanged at its last meeting on Jan. 24, though it said the bank's focus was shifting to when to cut borrowing costs.

The U.S. Federal Reserve held interest rates steady at its last meeting on Jan. 31, also dashing hopes that the central bank would begin a series of interest-rate cuts as soon as March.

The Toronto Stock Exchange's S&P/TSX composite index ended 1% lower on Monday, logging its worst day in almost a week, after it was dragged down by materials and utilities stocks.[.TO]

In corporate news, property management service provider Firstservice reported its fourth-quarter results before the opening bell on Tuesday.


Gold futures: $2,032.9; flat [GOL/]

US crude: $73.24; +0.6% [O/R]

Brent crude: $78.5; +0.7% [O/R]

(Reporting by Purvi Agarwal in Bengaluru; Editing by Shweta Agarwal)