Canada's TSX Futures Rise as US Inflation Falls Short

Futures tracking Canada's main stock index rose on Wednesday as US PCE inflation came in slightly below estimates.

The personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, increased 3.4% year-on-year, below forecasts of 3.7%.

This softer than expected reading eased some pressure on credit-sensitive stocks and supported gold prices, which rose, in turn lending support to mining shares.

Oil prices rebounded amid uncertainty over US-Iran negotiations, supporting energy producers but pressuring credit-sensitive sectors as persistent energy-driven inflation concerns remained.