TSX Futures Rise on US-Iran Deal Optimism

The S&P/TSX Composite Index gained nearly 0.5% to trade above 35,000 on Tuesday amid optimism over a pending US-Iran peace deal. US President Donald Trump said at the G7 summit that negotiations with Iran had entered a second stage. Oil prices slid as markets weighed the prospect of renewed supplies, easing concerns about energy-driven inflation and reducing fears of a hawkish shift by central banks. Lower bond yields supported financial stocks and the broader market, with RBC up more than 0.6%, TD Bank adding 0.5%, and BMO advancing nearly 1%. Higher gold prices boosted mining shares, with Agnico Eagle and WPM rising more than 1.5% and Barrick gaining over 1%. In contrast, lower oil prices weighed on energy stocks, with Canadian Natural shedding 1.5% and Suncor losing nearly 2%. Meanwhile, home sales rose 5.5% in May while home prices edged lower. Investors are awaiting the US Fed's policy decision on Wednesday, with markets widely expecting interest rates to remain unchanged.

Futures tracking the S&P/TSX Composite Index edged higher on Tuesday amid optimism over a pending US-Iran peace deal. US President Donald Trump said at the G7 summit that negotiations with Iran were moving into a second stage. Oil prices slid as markets weighed the prospect of renewed supplies, easing concerns about energy-driven inflation and reducing fears of a hawkish shift by central banks. Lower bond yields supported financial stocks and the broader market, while higher gold prices provided support for mining shares. Meanwhile, Canadian home sales rose 5.5% in May, while home prices edged lower. Investors are now focused on the Federal Reserve's policy decision on Wednesday, with markets widely expecting interest rates to remain unchanged.

The S&P/TSX Composite Index rose 1% to close at a record 35,276 on Monday after the US and Iran announced a preliminary peace agreement aimed at ending the conflict. US President Donald Trump said the deal would halt hostilities and reopen the Strait of Hormuz. Oil prices fell, easing concerns that an energy-driven inflation spike could trigger a hawkish shift by global central banks. Bond yields also declined, reducing worries over higher borrowing costs. Financial stocks traded higher, with Brookfield gaining 1.2%. Meanwhile, higher gold prices fueled a rally in mining shares, with Agnico Eagle rising 5.6%, WPM advancing 6.8%, and Barrick adding 4.2%. In contrast, energy stocks tumbled on lower oil prices, with Canadian Natural down 2.7% and Suncor losing 3%. Investors are now focused on the Federal Reserve's policy meeting, which concludes on Wednesday, with markets widely expecting interest rates to remain unchanged.