TSX Futures Edge Lower Amid Oil Rally and Tech Selloff

The S&P/TSX Composite Index fell 0.5% to close at 35,788 on Friday as rising oil prices fueled inflation concerns and technology stocks remained under pressure. Crude prices climbed amid escalating Houthi attacks on Saudi targets and reports of possible renewed US strikes against Iran. Canadian bond yields moved higher, with markets pricing in a Bank of Canada rate hike at its next meeting amid energy-driven inflationary pressures. Major Canadian banks posted losses, with BMO down 0.8% and CIBC falling 0.9%. Technology stocks extended their declines following Thursday’s Wall Street selloff. Celestica fell a further 3.2% after plunging 12% in the previous session. The company is scheduled to report its third-quarter 2026 results on Monday. Meanwhile, lower gold and silver prices weighed on mining stocks, with Agnico Eagle and Barrick each losing 1.3%. For the week, the TSX declined 0.5%.

The S&P/TSX Composite Index fell more than 0.5% to hover near 35,500 on Friday as the oil rally continued to fuel inflation concerns, while technology stocks remained under pressure. Crude oil prices climbed amid escalating Houthi attacks on Saudi targets and reports of possible renewed US strikes against Iran. Canadian bond yields moved higher, with markets pricing in a Bank of Canada rate hike at its next meeting amid energy-driven inflationary pressures. Major Canadian banks posted losses, with RBC, TD Bank, BMO, Scotiabank and CIBC each down about 1%. Meanwhile, technology stocks remained under pressure as the rotation away from AI-related shares continued. Celestica extended its losses, falling more than 3.5% after plunging 12% in the previous session, while Shopify shed nearly 1%. Celestica is scheduled to report its third-quarter 2026 results on Monday. Elsewhere, gold prices fluctuated and silver fell, weighing on mining stocks. On the week, the TSX shed near 2%.

Futures tracking the Canadian stock market moved lower on Friday as the oil rally continued to fuel inflation concerns, while technology stocks came under pressure amid a selloff on Wall Street. Crude oil prices climbed amid escalating Houthi attacks on Saudi targets and reports of possible renewed US strikes against Iran. Canadian bond yields moved higher, with markets pricing in a Bank of Canada rate hike at its next meeting amid energy-driven inflationary pressures. Major Canadian banks listed in the US posted losses in overnight trading. Meanwhile, technology stocks remained under pressure as the rotation away from AI-related shares continued. In the previous session, Celestica plunged 12%, while Shopify also closed sharply lower. Celestica is scheduled to report its third-quarter 2026 results on Monday. Elsewhere, gold prices fluctuated and silver fell, weighing on mining stocks.