TSX Futures Edge Higher Amid Lower Oil Prices
Futures tracking Canadian equities edged higher on Friday amid a favorable backdrop for banking and mining stocks, as easing oil prices and gains in precious metals provided support. Oil fell amid reports that the US and Iran were considering a deal that could reopen the Strait of Hormuz and lift the US blockade on Iranian ports. The pullback in oil offered some respite to credit-sensitive sectors that have been under pressure from energy-driven inflation concerns. Global yields pared some gains after surging over the past two sessions but remained elevated. Gold prices moved higher, supporting mining shares. The tech sector was on track for weekly gains, tracking Wall Street’s AI optimism.
Futures tracking Canadian equities edged higher on Friday amid a favorable backdrop for banking and mining stocks, as easing oil prices and gains in precious metals provided support. Oil fell amid reports that the US and Iran were considering a deal that could reopen the Strait of Hormuz and lift the US blockade on Iranian ports. The pullback in oil offered some respite to credit-sensitive sectors that have been under pressure from energy-driven inflation concerns. Global yields pared some gains after surging over the past two sessions but remained elevated.
Gold prices moved higher, supporting mining shares. The tech sector was on track for weekly gains, tracking Wall Street’s AI optimism.