Canada stocks-TSX futures rise as investors assess bank earnings, US tariffs
EWC•Commodities soften
- Among commodities, oil prices hit a one-week low as investors shrugged off the latest U.S. sanctions threat against Iran. Brent crude futures LCOc1 shed 3%, while West Texas Intermediate crude CLC1 slipped 2.9%.
- Gold prices also slipped, with profit-taking and a firmer dollar curbing gains ahead of U.S. inflation data and remarks from Federal Reserve Chairman Kevin Warsh this week.
- Spot gold XAU= was down 0.4%, while silver XAG= shed 1.5%.
TSX futures edge higher on bank earnings
Futures tracking Canada's financials-heavy stock index edged higher on Tuesday, as investors weighed positive quarterly bank earnings and trade tensions with the U.S.
Futures on the S&P/TSX index SXFc1 rose 0.2% to 2,154.10 points at 6:30 a.m. ET.
Trade tensions with the U.S. remain in focus
Focus is also on U.S.-Canada trade tensions after President Donald Trump on Monday threatened to raise U.S. tariffs on all cars, trucks and automotive parts from Canada to 50% starting January 1, 2027 — escalating a trade fight after negotiations collapsed last week.
The deal on the table would have cut the top-line tariff rate on Canadian cars and light-duty trucks to 15% from 25% and the tariffs on aluminum and steel to 25% from 50%.
BMO and Bank of Nova Scotia report higher profit
- BMO Financial BMO.TO reported a rise in third-quarter profit on Tuesday, driven by strong performance in its capital markets business.
