TSX Futures Rise as Metal Gains Support Miners
Futures tied to Canada’s stock market edged higher on Friday, supported by rising metal prices. Silver and copper prices advanced, while gold edged higher, lending support to mining stocks. Canadian mining companies listed in the US also moved higher in premarket trading. Meanwhile, the oil rally lost momentum, offering some relief to credit-sensitive stocks that have been under pressure from energy-driven inflation concerns. Bond yields edged higher but remained below recent peaks. In contrast, Bank of Canada Governor Tiff Macklem said Canada had not yet raised interest rates, but warned that the longer energy prices remain elevated, “the harder that gets.” Markets are currently pricing in a rate hike at the next policy meeting.
Futures tied to Canada’s stock market edged higher on Friday, supported by rising metal prices. Silver and copper prices advanced, while gold edged higher, lending support to mining stocks. Canadian mining companies listed in the US also moved higher in premarket trading. Meanwhile, the oil rally lost momentum, offering some relief to credit-sensitive stocks that have been under pressure from energy-driven inflation concerns.
Bond yields edged higher but remained below recent peaks. In contrast, Bank of Canada Governor Tiff Macklem said Canada had not yet raised interest rates, but warned that the longer energy prices remain elevated, “the harder that gets.” Markets are currently pricing in a rate hike at the next policy meeting.