TSX Futures Edge Lower
Futures tracking the TSX edged lower on Friday as oil prices inched higher, with supply concerns persisting despite reports that Saudi Arabia was offering additional crude supplies through Oman. US President Trump noted the possibility that the US could re-escalate attacks against Iran after recent attempts at dialogue between Tehran, Washington, and GCC states failed to restore maritime oil exports. Canadian bond yields edged higher amid persistent energy-driven inflation concerns, pressuring credit-sensitive stocks. Meanwhile, gold prices remained firm, lending support to mining shares. The S&P/TSX Composite Index is heading for a weekly decline as the oil rally lost momentum this week and markets had already priced in the US Fed’s 25 bps rate hike.
Futures tracking the TSX edged lower on Friday as oil prices inched higher, with supply concerns persisting despite reports that Saudi Arabia was offering additional crude supplies through Oman. US President Trump noted the possibility that the US could re-escalate attacks against Iran after recent attempts at dialogue between Tehran, Washington, and GCC states failed to restore maritime oil exports. Canadian bond yields edged higher amid persistent energy-driven inflation concerns, pressuring credit-sensitive stocks. Meanwhile, gold prices remained firm, lending support to mining shares.
The S&P/TSX Composite Index is heading for a weekly decline as the oil rally lost momentum this week and markets had already priced in the US Fed’s 25 bps rate hike.