Futures tracking the S&P/TSX Composite Index were little changed on Thursday as investors weighed the inflationary implications of renewed conflict in the Middle East. Crude prices held firm after a sharp rally in the previous session, reinforcing concerns that energy-driven inflation and the prospect of prolonged higher interest rates could weigh on financial stocks. At the same time, gold prices inched higher as the US dollar steadied, offering support to mining shares.
In corporate news, Triple Flag reported preliminary second-quarter revenue of $129.2 million, marking an increase from a year earlier, while Firan Technology exceeded second-quarter revenue expectations. Meta also unveiled plans to build its first Canadian data center in Alberta, underscoring ongoing investment in AI-related infrastructure.
Looking ahead, investors are focused on Canada’s June employment report, due Friday, for further insight into the Bank of Canada’s policy outlook. Markets broadly expect the central bank to leave interest rates on hold.
