TSX Futures Edge Higher as Oil Prices Ease
Futures tracking Canadian stocks edged higher on Thursday as falling oil prices eased pressure on credit-sensitive stocks. Energy-driven inflation concerns have weighed on major banks since the start of the US-Iran war by raising the risk of interest rates staying higher for longer. Oil prices declined as hopes for peace talks eased concerns over Middle East supply disruptions, offering some relief to the credit-sensitive sectors. Meanwhile, falling gold prices are likely to weigh on miners. Several mining companies reported third-quarter results after Wednesday’s close. Agnico Eagle, Kinross, and First Quantum beat profit expectations, while Alamos missed estimates. In technology, mixed results from major US companies will influence trading, with Microsoft reporting strong results while Alphabet delivered a weaker performance. On Friday, Cameco and Imperial Oil are due to report earnings.
Futures tracking Canadian stocks edged higher on Thursday as falling oil prices eased pressure on credit-sensitive stocks. Energy-driven inflation concerns have weighed on major banks since the start of the US-Iran war by raising the risk of interest rates staying higher for longer. Oil prices declined as hopes for peace talks eased concerns over Middle East supply disruptions, offering some relief to the credit-sensitive sectors. Meanwhile, falling gold prices are likely to weigh on miners.
Several mining companies reported third-quarter results after Wednesday’s close. Agnico Eagle, Kinross, and First Quantum beat profit expectations, while Alamos missed estimates. In technology, mixed results from major US companies will influence trading, with Microsoft reporting strong results while Alphabet delivered a weaker performance. On Friday, Cameco and Imperial Oil are due to report earnings.