TSX futures fall as inflation fears and oil lift pressure
TSX futures tracked Canadian stocks lower on Thursday as oil prices and bond yields extended gains. Investors also moved on concerns about prolonged inflation after stronger-than-expected US PPI and ahead of Friday CPI.
Futures tracking Canadian stocks fell on Thursday amid elevated oil prices and bond yields. Oil extended its rally following the biggest wave of attacks on shipping in the Strait of Hormuz by Washington and Tehran on Wednesday. Global yields moved higher on fears of prolonged inflation, following stronger-than-expected US PPI and ahead of CPI data expected Friday. Rising expectations for a Fed rate hike pressured credit-sensitive stocks, while falling gold prices weighed on miners.
55 billion in cash, expanding its US liquids pipeline network by acquiring a majority stake in the Pony Express Pipeline and other assets.