TSX Futures Edge Lower Amid Oil Rally and Tech Selloff
Futures tracking the Canadian stock market moved lower on Friday as the oil rally continued to fuel inflation concerns, while technology stocks came under pressure amid a selloff on Wall Street. Crude oil prices climbed amid escalating Houthi attacks on Saudi targets and reports of possible renewed US strikes against Iran. Canadian bond yields moved higher, with markets pricing in a Bank of Canada rate hike at its next meeting amid energy-driven inflationary pressures. Major Canadian banks listed in the US posted losses in overnight trading. Meanwhile, technology stocks remained under pressure as the rotation away from AI-related shares continued. In the previous session, Celestica plunged 12%, while Shopify also closed sharply lower. Celestica is scheduled to report its third-quarter 2026 results on Monday. Elsewhere, gold prices fluctuated and silver fell, weighing on mining stocks.
Futures tracking the Canadian stock market moved lower on Friday as the oil rally continued to fuel inflation concerns, while technology stocks came under pressure amid a selloff on Wall Street. Crude oil prices climbed amid escalating Houthi attacks on Saudi targets and reports of possible renewed US strikes against Iran. Canadian bond yields moved higher, with markets pricing in a Bank of Canada rate hike at its next meeting amid energy-driven inflationary pressures. Major Canadian banks listed in the US posted losses in overnight trading.
Meanwhile, technology stocks remained under pressure as the rotation away from AI-related shares continued. In the previous session, Celestica plunged 12%, while Shopify also closed sharply lower. Celestica is scheduled to report its third-quarter 2026 results on Monday. Elsewhere, gold prices fluctuated and silver fell, weighing on mining stocks.