TSX Futures Climb Following Subdued GDP Data

Futures tied to the TSX edged higher on Tuesday after GDP data was released. The numbers showed that real GDP increased by 0.2% in August, with gains in mining and quarrying and retail trade offsetting a decline in oil and gas extraction.

The Bank of Canada's expectations of not raising rates this year were reinforced by the subdued GDP data. Oil prices pulled back as US and Iranian officials continued separate discussions with mediators.

Easing crude and fuel prices offered some relief to credit-sensitive stocks, which had been under pressure from inflation concerns stemming from the oil rally. Meanwhile, gold prices moved higher, lending support to mining shares.