TSX Futures Slip as Oil Rebounds
Futures tracking Canadian stocks inched lower as oil prices rebounded, renewing inflation concerns. Crude oil pared losses amid persistent US-Iran tensions, with major disagreements between the two parties posing obstacles to negotiations. Credit-sensitive sectors such as banks have been pressured by energy-driven inflation and the resulting higher-for-longer interest rates since the conflict began. Meanwhile, gold prices stabilized after a sharp drop in the prior session that hit major Canadian miners. On the earnings front, CGI reported EPS and revenue slightly above estimates. Franco-Nevada and Power of Canada are scheduled to report after market close.
Futures tracking Canadian stocks inched lower as oil prices rebounded, renewing inflation concerns. Crude oil pared losses amid persistent US-Iran tensions, with major disagreements between the two parties posing obstacles to negotiations. Credit-sensitive sectors such as banks have been pressured by energy-driven inflation and the resulting higher-for-longer interest rates since the conflict began. Meanwhile, gold prices stabilized after a sharp drop in the prior session that hit major Canadian miners.
On the earnings front, CGI reported EPS and revenue slightly above estimates. Franco-Nevada and Power of Canada are scheduled to report after market close.