(Reuters) – Futures tied to Canada’s main stock index were muted on Wednesday as investor caution ahead of U.S. inflation data overshadowed gains in crude prices.

September futures on the S&P/TSX index were flat at 0.0% at 6:11 a.m. ET (10:11 GMT).

The U.S. Labor Department’s consumer price index (CPI) data, due at 8:30 a.m. ET, is expected to show inflation rose 0.2% on a monthly basis in August.

The U.S. CPI data could influence the magnitude and pace of interest-rate cuts by the Federal Reserve in the policy meeting on Sept. 18.

Although there is an uncertainty about the size of the reduction, markets see a 69% chance of a 25-basis-point cut.

Meanwhile, global markets also reacted to the U.S. presidential debate on Tuesday, where Democrat Kamala Harris put Republican Donald Trump on a defensive.

The debate also perked up the odds of Harris’ victory in the upcoming presidential elections.

Back home, the TSX composite index ended lower on Tuesday as a drop in oil prices weighed on energy shares.

However, the energy sector was set for a positive start on Wednesday, with oil prices up on a drop in U.S. crude inventories and concern about Hurricane Francine disrupting output in the United States. [O/R]

Materials shares also gathered optimism as gold and copper prices edged higher against a softer dollar. [GOL/] [MET/L]

In corporate news, Suntory Holdings CEO Takeshi Niinami said in a Reuters NEXT Newsmaker interview that Seven & i responded fairly by rejecting Alimentation Couche-Tard’s $39 billion takeover bid.

COMMODITIES

Gold: $2,521.64; +0.2% [GOL/]

US crude: $67.37; +2.5% [O/R]

Brent crude: $70.72; +2.2% [O/R]

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

($1 = 1.3585 Canadian dollars)

(Reporting by Nikhil Sharma in Bengaluru; Editing by Shreya Biswas)