TSX Futures Tumble Amid Global Bond Selloffs and Oil Volatility
TSX futures in Canada were subdued on Thursday due to a selloff in bond markets and volatility in oil prices. The TSX index fell by 2 points, or 0.1%, by 06:45 ET (10:45 GMT). This comes after the index's streak of five consecutive months of gains was snapped in September, which saw elevated global bond yields, a Federal Reserve interest rate hike, and intensifying trade tensions between Canada and the US.
In contrast, U.S. stock index futures were inching higher on Thursday as investors assessed earnings from chipmaker Micron Technology. The company reported stronger-than-expected fiscal fourth-quarter earnings, with adjusted earnings of $33.42 per share beating expectations of $31.16. However, shares of Micron were hovering below the flatline in premarket U.S. trading due to slightly softer gross margins and higher operating expenses for fiscal 2027.
The global chipmaking sector surged on Thursday, with major companies in Japan, South Korea, and Taiwan clocking gains. This comes as several major frontier labs, led by Claude-maker Anthropic, have called for a slowdown in AI development due to concerns over safety.