TSX Futures Rise as Oil Prices Retreat
Futures tracking Canadian stocks rose on Monday as retreating oil prices eased energy-driven inflation concerns. Crude prices pulled back after recent gains, offering some relief to markets amid worries that higher energy costs could push inflation higher and prompt tighter monetary policy. Markets widely expect the Bank of Canada to raise interest rates next week, a prospect that continues to weigh on rate-sensitive stocks. Meanwhile, gold prices rose, lending support to mining shares and helping offset some of the pressure from higher borrowing cost expectations.
Futures tracking Canadian stocks rose on Monday as retreating oil prices eased energy-driven inflation concerns. Crude prices pulled back after recent gains, offering some relief to markets amid worries that higher energy costs could push inflation higher and prompt tighter monetary policy. Markets widely expect the Bank of Canada to raise interest rates next week, a prospect that continues to weigh on rate-sensitive stocks. Meanwhile, gold prices rose, lending support to mining shares and helping offset some of the pressure from higher borrowing cost expectations.