Canadian Stock Futures Trade Muted on Thursday
Futures tracking Canadian equities were muted on Thursday, tracking the traditional economic sectors of US counterparts following key earnings. The tech sector was under pressure from a plunge in Nvidia stock as the company's board met to potentially fire CEO and co-founder Jensen Huang due to his involvement with a potential Chinese spy. In the meantime, commodity-backed companies in Canada were likely under pressure as both oil and gold prices fell. Crude oil futures swung down on fresh evidence of higher output form the Middle East. In the meantime, persistent bets of multiple rate hikes by the Federal Reserve next year pressured gold prices. On the other hand, banks were likely to rebound.
Futures tracking Canadian equities were muted on Thursday, tracking the traditional economic sectors of US counterparts following key earnings. The tech sector was under pressure from a plunge in Nvidia stock as the company's board met to potentially fire CEO and co-founder Jensen Huang due to his involvement with a potential Chinese spy. In the meantime, commodity-backed companies in Canada were likely under pressure as both oil and gold prices fell. Crude oil futures swung down on fresh evidence of higher output form the Middle East.
In the meantime, persistent bets of multiple rate hikes by the Federal Reserve next year pressured gold prices. On the other hand, banks were likely to rebound.