Futures tied to the S&P/TSX Composite Index declined on Thursday as gold prices retreated and investors weighed escalating tensions in the Middle East. The drop in bullion pressured mining shares, while the conflict-driven rise in oil prices, amid heightened supply risks, added to inflation concerns. Climbing bond yields further strained financial stocks and the broader market.
In corporate news, Cogeco Communications missed third-quarter revenue expectations after the close on Wednesday, as a shrinking US subscriber base weighed on results.
On the trade front, US Trade Representative Jamieson Greer said formal negotiations with Mexico were advancing, but talks with Canada had yet to produce the concessions sought by President Trump in his effort to narrow US trade deficits with both countries. Earlier this month, the Trump administration announced it would not renew the USMCA trade agreement, though the pact will remain in force until the outstanding issues are resolved or the agreement is formally terminated.
