TSX futures dip 0.5% as oil prices rekindle inflation fears
December S&P/TSX futures were down 0.5% at 06:12 a.m. ET. Brent crude rose nearly 4% to about $108.25 a barrel, while gold fell more than 3% and silver dropped 4.8%.
Sept. S. data due later this week. m.
ET (1012 GMT). S. President Donald Trump rejected an Iranian peace deal to resolve the conflict and reopen the Strait of Hormuz. The oil-price jump revived worries that energy-driven inflation shocks could keep interest rates higher for longer, limiting room for central banks to loosen policy.
S. GDP and Personal Consumption Expenditures inflation data for clues on growth and the Federal Reserve's policy outlook. Canadian GDP data, due on Tuesday, may also provide signals on economic momentum in the country. Mining shares on the TSX could also face pressure as precious metals weaken.
8%. The benchmark index closed Canadian stocks were higher on Friday, helped by gains in the financials and consumer discretionary sectors. In company news, International Petroleum Corp bought back 148,500 shares last week under its normal course issuer bid, extending its share repurchase programme.