TSX futures edge higher on major banks earnings
Canada TSX futures tick higher as BMO and Scotiabank report higher third-quarter profits, while trade-tension headlines and softer oil/gold weigh on broader market sentiment.
Futures tracking Canada’s stock market inched higher on Tuesday amid a batch of earnings reports from major banks.
BMO reported higher third-quarter profit, driven by strong performance in its capital markets business.
Scotiabank also posted higher third-quarter profit, helped by increased interest income.
National Bank is due to report earnings tomorrow, while RBC, TD Bank and CIBC report on Thursday.
Focus also remains on US-Canada trade tensions after President Donald Trump on Monday threatened to raise US tariffs on all Canadian cars, trucks and automotive parts to 50% starting January 1st, 2027.
Meanwhile, oil prices fell despite the latest US sanctions threat against Iran, offering some respite to financials and broader markets that have been under pressure from energy-driven inflation concerns.
Gold prices also slipped as profit-taking and a firmer dollar curbed gains ahead of US PCE data, pressuring mining stocks.