Futures tracking Canadian equities were little changed on Wednesday, as persistent US–Canada trade tensions and a new round of bank earnings kept investors cautious. Ottawa unveiled retaliatory tariffs on roughly $20 billion in annual US imports, mirroring Washington’s latest levies on autos, furniture, plastics, plywood, and electrical equipment.
In corporate news, National Bank reported higher third-quarter profit, supported by robust performance in its wealth management division. BMO and Scotiabank also delivered stronger-than-expected quarterly results on Tuesday, while RBC, TD Bank, and CIBC are scheduled to report on Thursday.
Elsewhere in the market, a pullback in gold prices weighed on mining stocks, and oil prices declined as renewed talks between Iran and Oman rekindled hopes that the Strait of Hormuz could reopen. The prospect of improved shipping conditions eased some inflation concerns but put additional pressure on energy shares.
