FX.co ★ TSX Futures Edge Higher as Bank Earnings Improve

On Thursday, futures associated with the S&P/TSX Composite Index saw a slight increase, buoyed by robust quarterly performances from several Canadian banks. Notably, TD Bank was poised for a strong market opening, having surpassed earnings projections and announced a dividend hike. Similarly, BMO exceeded forecasts in both profit and income, driven by a strong performance in its wealth and capital markets divisions. CIBC also reported an uptick in fourth-quarter profit, largely due to gains in its capital markets operations. Recent market sentiment has been positive, influenced by anticipated interest rate cuts by the US Federal Reserve next week. Concurrently, gold prices experienced a decline as strong equity markets dampened safe-haven demand. In contrast, oil prices rose following Ukrainian attacks on Russian energy infrastructure, which hinted at potential supply disruptions. Additionally, Descartes, a logistics software company, exceeded analyst expectations for its third-quarter revenue.