TSX futures edge higher as oil gains offset weakness in gold
SPY•December futures on Canada's S&P/TSX index rose 0.18% as higher oil prices improved prospects for energy stocks, offsetting pressure from lower gold prices on mining stocks.
1. Futures edge up
December futures on the S&P/TSX index rose 0.18% at 5:48 a.m. ET on Wednesday. Brent crude gained 1.1% as fears of supply disruptions persisted, while spot gold fell 0.1%, extending its losses to a fourth session.
2. Rates and other news
Traders priced in an 80% chance of a Bank of Canada rate hike the following week and a one-percentage-point hike over the next 12 months, according to LSEG data. Canada's federal budget is due November 5. Mitsubishi Corp approved construction of an Arizona copper project jointly with Hudbay Minerals.
