TSX futures slip as oil, yields lift inflation concerns
Canada stock-index futures move lower as rising oil prices, higher yields and weaker gold pressure financials and miners, while July producer inflation in Canada surges 12.4%.
Futures tracking Canada's stock market moved lower on Thursday as rising oil prices increased inflation concerns and falling gold prices pressured mining stocks.
Oil prices climbed after US President Donald Trump announced a sweeping package of economic measures targeting Iran.
Financials and the broader market came under pressure as yields rose amid inflation concerns.
Gold prices fell as investors took profits following a climb to a more than two-month high, likely weighing on miners after Wednesday's rally.
The Canadian producer inflation soared 12.4% in July, underscoring the impact of high energy prices on wholesale prices and in line with the elevated levels for yields.
On the trade front, the US and Canada are reportedly nearing a deal.