FX.co ★ TSX Futures Point to Higher Open

Futures for the S&P TSX Composite Index saw a significant uptick on Thursday, effectively interrupting the steep declines of the previous two sessions. This positive shift mirrored the recovery in U.S. stock markets following robust earnings posted by Nvidia. The tech behemoth indicated that demand for AI infrastructure is underpinned by strong sales, which are projected to remain stable, providing a boost to the North American tech industry. This development has favorable implications for companies like Shopify and CGI, potentially leading to higher earnings. Additionally, the revitalized risk appetite benefited industrial and mining sectors, attributed to their involvement in datacenter infrastructure. Concurrently, the stabilization in crude oil prices is expected to benefit major energy producers listed in Toronto.