TSX Futures Climb as Oil Prices and Bond Yields Retreat
Futures for Canada's benchmark stock index rose on Tuesday, driven by softer oil prices and a retreat in global bond yields, which boosted investor risk appetite. December futures for the S&P/TSX index climbed 0.42% by 06:03 a.m. ET (1003 GMT). Oil prices fell as steady Middle Eastern crude exports and a G7 emergency stockpile release eased supply concerns, pushing Brent Crude below $100 a barrel.
The yield on the US 10-year Treasury note dipped after hitting a 24-year high on Monday, offering some relief to investors. However, persistent inflation and rising government debt continue to keep bond and equity markets on edge. Gold prices also eased, slightly pressuring sentiment in the commodity-heavy Canadian market.
Canada's main stock index edged higher in the previous session, with gains in technology shares offsetting declines in energy and financials. Among corporate developments, vitamins and supplements maker Jamieson Wellness (JWEL.TO) received final court approval for its pending acquisition by Kirin Holdings.
On the political front, a separatist party narrowly won Quebec's election on Monday, a result that could complicate Prime Minister Mark Carney's efforts to maintain national unity amid a trade deal dispute with the US.