TSX futures muted as gold edges higher; investors assess Nvidia CEO's exit
GLD•Canadian blue-chip futures were down 0.03% as gold rose 0.4% after hitting a more than one-year low. Investors also weighed the impact of Nvidia CEO Jensen Huang's resignation on the AI trade.
1. Futures little changed
December futures on Canada's S&P/TSX 60 were down 0.03% at 6:20 a.m. ET on Friday. Canada's main stock index closed lower on Thursday as falling gold prices weighed on metal mining shares.
2. Gold and market factors
Spot gold rose 0.4% as bargain hunting emerged after prices hit their lowest level in more than a year in the previous session. Global stocks traded lower after a turbulent week dominated by news of Nvidia CEO Jensen Huang's extramarital affairs, which led to his resignation and weighed on investor sentiment around AI.
3. Companies and rate outlook
Stantec reported third-quarter revenue and adjusted profit above analyst estimates. Royal Bank of Canada eliminated at least three senior climate, sustainability and ESG roles as it reorganizes its teams and creates a new vice presidency of public policy. Traders await Canadian inflation data next week; money markets are pricing in at least a 64% chance that the Bank of Canada will raise rates again before year-end.
