Canada Stocks-TSX futures subdued as investors weigh Middle East developments
SPY•Broader market context
- Investors will also look ahead to a meeting between U.S. President Donald Trump and Chinese President Xi Jinping next week, with the discussions likely to focus on tensions in the Gulf region among other issues.
- The benchmark stock index .GSPTSE is heading for its first weekly gain in five as easing oil prices and the Fed's focus to combat inflation helped improve investor sentiment.
TSX futures edge lower
Futures tracking Canada's main stock index were subdued on Friday, as investors weighed developments in the Middle East, while oil prices eased on reports of additional supply from Saudi Arabia and precious metal prices extended gains.
December futures on the S&P/TSX index SXFcv1 were down 0.06% at 06:00 a.m. ET (10:00 GMT).
Oil, gold and silver move
- Oil prices extended losses as traders assessed reports that Saudi Arabia was offering additional crude supplies through Oman, while a smaller-than-expected draw from U.S. crude inventories also weighed. O/R
- However, concerns about higher prices of refined crude products remain, with Brent crude futures LCOc1 still elevated at above $100 a barrel.
- Spot gold XAU= rose 0.8% to a one-week high, extending its rebound after declines on Wednesday following the Federal Reserve's interest rate hike, while silver prices also climbed 2.8%. GOL/
