Canadian stock futures slip as yields rise and trade tensions loom
Canada stock-index futures edge lower on Tuesday amid rising global bond yields, Middle East uncertainty, and energy/trade-driven macro concerns, while oil rises, gold slips, and home sales undershoot expectations.
Futures tracking Canada’s stock market edged lower on Tuesday amid rising global bond yields and continued uncertainty in the Middle East.
Oil prices gained as hopes of a US-Iran peace deal faded, raising concerns over energy-driven inflationary pressures.
Bond yields moved higher, pressuring financials and the broader market.
Gold prices slipped and weighed on mining stocks.
Elsewhere, NexGen Energy is sharing information and “talking regularly” with mining giant BHP about its Rook I mining project in Saskatchewan, CEO Leigh Curyer said when asked about a potential equity stake.
On the data front, home sales rose less than expected in July.
Separately, Canada faces a new round of 50% US tariffs this week, with negotiators from the two countries still far from reaching a draft trade deal.