TSX futures slip as oil rally adds to inflation worries
SPY•S&P/TSX December futures fell 0.28% as Brent crude rose above $114 a barrel, renewing concerns about inflation and higher-for-longer interest rates.
1. Futures and rate outlook
December futures tracking the S&P/TSX were down 0.28% at 6:11 a.m. ET on Friday. Brent crude rose above $114 a barrel, its highest level in more than five months, while spot gold touched its lowest since July 17. Markets were pricing in a quarter-point Bank of Canada rate hike next week and nearly a percentage point of hikes over the next 12 months; traders expected the U.S. Federal Reserve to hold rates next week, with a quarter-point hike priced in for December. Investors were also awaiting August Canadian retail sales data.
