TSX futures climb as oil retreat eases inflation fears; US data in focus
SPY•December S&P/TSX futures rose 0.2% as falling oil prices eased inflation concerns, while investors awaited US inflation data. Traders were pricing in roughly a 25-basis-point rate cut by year-end after the Federal Reserve held rates steady.
1. Futures rise
December futures on Canada's S&P/TSX index rose 0.2% at 5:55 a.m. ET on Thursday, as lower oil prices eased inflation worries. Investors were focused on US inflation data due later in the day for clues on the interest-rate outlook.
2. Markets and companies
Oil fell as hopes for peace talks reduced concerns about Middle East supply disruptions. Gold shed 0.9% as investors assessed signals from the Federal Reserve and Chair Kevin Warsh after policymakers left interest rates unchanged on Wednesday. Traders were pricing in roughly a 25-basis-point rate cut by year-end.
3. Other developments
Alamos Gold missed third-quarter profit estimates, while Agnico Eagle Mines surpassed expectations. In US premarket trading, Microsoft climbed 3% after a cash flow beat and strong cloud growth, while Alphabet slid 10% after downbeat results. Canada's main stock index reached a one-week high on Wednesday, with energy and technology gains offsetting real estate declines.
