TSX Futures Rise as Oil and Bond Yields Ease

The S&P/TSX Composite Index edged higher near 35,500 on Tuesday amid easing oil prices and a pullback in global bond yields. Oil prices fell as resilient Middle Eastern crude exports and a G7 emergency stockpile release eased supply concerns, reducing energy-driven inflation pressures. Yields also eased from multi-year highs, offering some respite to credit-sensitive markets. RBC and TD Bank rose more than 0.5%, while BMO, Scotiabank and CIBC gained nearly 1%. Miners were mostly lower amid volatile gold prices, with Barrick and WPM shedding about 0.5%. Elsewhere, Jamieson Wellness was near flat after receiving final court approval for its pending acquisition by Kirin Holdings. On the data front, Canada’s merchandise trade surplus widened to a four-year high in August as US consumers front-loaded orders before new tariffs took effect at the end of the month.

Futures tracking Canada’s benchmark stock index rose on Tuesday amid easing oil prices and a pullback in global bond yields. Oil prices fell as resilient Middle Eastern crude exports and a G7 emergency stockpile release eased supply concerns, reducing energy-driven inflation pressures. Yields eased from multi-year highs, offering some respite to credit-sensitive markets. Gold prices rebounded from earlier losses, lending support to mining shares. Elsewhere, Jamieson Wellness received final court approval for its pending acquisition by Kirin Holdings. On the data front, Canada's merchandise trade surplus widened to a four-year high in August as US consumers front-loaded orders before new tariffs were placed in the end of the month.

The S&P/TSX Composite Index closed near flat at 35,518 on Monday, as gains in technology shares offset declines in energy and financials. Tech stocks advanced, tracking strength in the Wall Street AI trade, with Shopify jumping 5.7%. Global yields remained near multi-year highs amid concerns over persistent energy-driven inflation and rising fiscal risks. Credit-sensitive stocks fell, with RBC and TD Bank down 0.5% each, BMO losing 0.7% and Scotiabank falling 0.9%. Energy stocks also declined as the oil rally stalled. Suncor (-1.2%) agreed to sell interests in three offshore oil assets to Ithaca, while Cenovus (-3%) agreed to acquire Athabasca Oil in a cash-and-stock deal. Mining shares mostly fell as gold prices pared gains, with Barrick down 0.6%.