TSX futures steady as CIBC, TD and RBC beat estimates
Futures tracking Canada’s stock market were little changed as CIBC, TD Bank and RBC reported EPS and revenue above estimates. Oil rebounded, lifting bond yields and pressuring credit-sensitive stocks.
Futures tracking Canada’s stock market were little changed on Thursday as major bank earnings rolled in.
CIBC, TD Bank and RBC reported EPS and revenue above estimates, adding to a largely positive batch of bank earnings this week.
On the geopolitical front, Qatar’s prime minister will visit Tehran on Thursday to pursue mediation efforts after the US and Iran traded recriminations over Washington’s pledge to increase economic pressure on Iran by targeting its trade partners with sanctions.
Oil prices rebounded, pushing bond yields higher on renewed energy cost concerns and pressuring credit-sensitive stocks.
Amid ongoing trade tensions with the US, Canada removed seafood and fish products from its list of counter-tariffs on US imports on Wednesday, a day after announcing levies on about $20 billion worth of US products.
The US imposed new 50% tariffs on $20 billion of Canadian imports on Saturday, including autos and auto parts.
BRP is set to release earnings today.