Canadian Stock Futures Trade Muted on Thursday

2026-11-12 13:03 By Andre Joaquim 1 min. read

Futures tracking Canadian equities were muted on Thursday, mirroring the traditional economic sectors of their US counterparts following key earnings.

The tech sector was under pressure from a plunge in Nvidia stock as the company's board met to potentially fire CEO and co-founder Jensen Huang due to his involvement with a suspected Chinese spy.

Meanwhile, commodity-backed companies in Canada were likely under pressure as both oil and gold prices fell.

Crude oil futures swung lower on fresh evidence of higher output from the Middle East.

On top of that, Franco-Nevada was due to open lower after signaling its annual earnings should land at the midpoint of earlier guidance instead of prior estimates of the top half.

At the same time, persistent bets on multiple rate hikes by the Federal Reserve next year pressured gold prices.

On the other hand, banks were likely to rebound.



News Stream
Canadian Stock Futures Trade Muted on Thursday
Futures tracking Canadian equities were muted on Thursday, mirroring the traditional economic sectors of their US counterparts following key earnings. The tech sector was under pressure from a plunge in Nvidia stock as the company's board met to potentially fire CEO and co-founder Jensen Huang due to his involvement with a suspected Chinese spy. Meanwhile, commodity-backed companies in Canada were likely under pressure as both oil and gold prices fell. Crude oil futures swung lower on fresh evidence of higher output from the Middle East. On top of that, Franco-Nevada was due to open lower after signaling its annual earnings should land at the midpoint of earlier guidance instead of prior estimates of the top half. At the same time, persistent bets on multiple rate hikes by the Federal Reserve next year pressured gold prices. On the other hand, banks were likely to rebound.
2026-11-12
TSX Rises on Energy Gains
The S&P/TSX Composite Index rose 0.7% to close at 36,411 on Wednesday with support from energy producers. Crude oil pared losses amid persistent US-Iran tensions, with major disagreements between the two parties posing obstacles to negotiations. Canadian Natural rose 1.9%, Suncor added 2.2%, Imperial Oil advanced 3.1% and Cenovus was up 3%. Technology stocks also gained, supported by upbeat results from CoreWeave. Shopify rose 2.1%, Celestica jumped 8.4%, and Constellation Software gained 1%. Major banks also rose, with RBC up 0.8% and TD Bank adding 0.7%. Meanwhile, gold prices fell after a sharp drop in the prior session that hit major Canadian miners, driving them to extend losses. Agnico Eagle lost 2% and Barrick fell 1.3%, while Franco-Nevada retreated 2.4% ahead of its earnings report. Elsewhere, Power of Canada added 1.4% ahead of its earnings.
2026-11-11
TSX Futures Slip as Oil Rebounds
Futures tracking Canadian stocks inched lower as oil prices rebounded, renewing inflation concerns. Crude oil pared losses amid persistent US-Iran tensions, with major disagreements between the two parties posing obstacles to negotiations. Credit-sensitive sectors such as banks have been pressured by energy-driven inflation and the resulting higher-for-longer interest rates since the conflict began. Meanwhile, gold prices stabilized after a sharp drop in the prior session that hit major Canadian miners. On the earnings front, CGI reported EPS and revenue slightly above estimates. Franco-Nevada and Power of Canada are scheduled to report after market close.
2026-11-11