TSX Futures Flat Amid Ongoing Trade Tensions and Strong Bank Results
The TSX futures remained flat on Wednesday as investors weighed in on National Bank of Canada's strong quarterly results, amidst ongoing trade tensions with the U.S.
National Bank of Canada reported a rise in third-quarter profit, driven by a robust performance in its wealth management segment. This adds to a series of stronger-than-expected quarterly results from other Canadian banks, including Bank of Montreal and Bank of Nova Scotia.
The trade war between Canada and the U.S. continues to be a concern for investors. In response to recent tariffs imposed by Washington, Ottawa has hit back with retaliatory measures on around $20 billion worth of U.S. annual imports. The counter-tariffs take effect on September 8, imposing duties of 15%, 25%, and 50% across approximately 700 products.
In other markets, gold prices slipped as traders awaited US inflation data due at 8:30 a.m. ET. Spot gold shed 0.8%, while silver slipped 0.2%. Oil prices also fell, with Brent crude futures down 2.9% and West Texas Intermediate crude futures slipping 2.7%.