TSX Futures Slide Amid Inflation Worries and AI Safety Concerns
Futures tracking Canada's main stock index inched lower on Monday ahead of August CPI data as rising crude prices rekindled inflation worries. The TSX, which closed at 35,697.49 on Friday after gaining 191.21 points, saw its futures slide by 0.2%. Oil prices rose more than 2% to $102.38 a barrel after Saudi Arabia shut down a key pipeline.
Meanwhile, AI-linked stocks on Wall Street fell in premarket trading following warnings from the CEOs of Anthropic and OpenAI that the pace of AI development needs to slow down due to safety risks. Nvidia, Intel, and Marvell Technology were among those falling 3%, 6%, and 7% respectively.
On a related note, Prime Minister Mark Carney stated on Sunday that Canada is seeking a 'unique alliance' with the European Union but not membership. The Canadian dollar lost 0.15 cents to trade at 71.96 cents U.S. while gold prices dropped $76.80 to $4,332.10 an ounce.