TSX Futures Slip on Lower Metal Prices
Futures tracking Canadian equities fell on Wednesday as lower metal prices pressured mining stocks, while oil prices moved higher, stoking energy-driven inflation fears. Gold and silver fell amid hawkish signals from US Federal Reserve officials, while copper also moved lower. In addition, CIBC downgraded Endeavour Silver to “neutral” from “outperformer.” US-listed Canadian miners posted sharp losses in pre-market trading. Meanwhile, oil moved higher amid uncertainty over diplomatic efforts to end the US-Iran war and reopen the Strait of Hormuz. Bond yields moved higher as energy-driven inflation concerns persisted despite the slowdown in the oil rally in recent weeks, pressuring credit-sensitive stocks such as major banks.
Futures tracking Canadian equities fell on Wednesday as lower metal prices pressured mining stocks, while oil prices moved higher, stoking energy-driven inflation fears. Gold and silver fell amid hawkish signals from US Federal Reserve officials, while copper also moved lower. ” US-listed Canadian miners posted sharp losses in pre-market trading. Meanwhile, oil moved higher amid uncertainty over diplomatic efforts to end the US-Iran war and reopen the Strait of Hormuz.
Bond yields moved higher as energy-driven inflation concerns persisted despite the slowdown in the oil rally in recent weeks, pressuring credit-sensitive stocks such as major banks.