TSX futures edge up as oil eases, precious metals gain
EWC•S&P/TSX futures rose 0.2% as oil prices eased and precious metals gained, while elevated bond yields limited gains. Traders saw a 65% chance of a Bank of Canada rate hike of at least 25 basis points in October.
1. Futures rise modestly
December futures on the S&P/TSX were up 0.2% at 6:00 a.m. ET on Friday. Easing oil prices and small gains in precious metals supported futures, while elevated bond yields kept gains in check.
2. Yields and sectors
Brent crude eased more than 1% on expectations that negotiations between Iran and U.S. mediators could produce a meaningful conclusion to the six-month-old conflict. Oil remained above $100 a barrel, while Canada's 10-year government bond yield climbed to 3.998%, its highest in more than three years. Traders saw a 65% chance of a Bank of Canada rate hike of at least 25 basis points in October. The materials sector was among the benchmark's top weekly decliners, while technology was set for an 8% weekly gain, its biggest since early August.
