Canadian equity futures were flat on Thursday, weighed down by ongoing geopolitical tensions between Iran and the United States and renewed weakness in US equity markets. Reports of repeated clashes between Lebanon and Israel further strained the ceasefire, while Tehran and Washington remained deadlocked over the release of oil tankers, prolonging global inflationary pressures.
Domestic data due on Friday are expected to underscore the fragility of Canada’s labor market, with both net employment and the unemployment rate forecast to be unchanged following last quarter’s GDP stagnation. Shopify was set to open lower in premarket trading, dragged by disappointing earnings from US technology peers. Energy stocks were also poised to soften in line with lower oil prices, although a rebound in gold prices lent support to mining shares listed in Toronto.
