Futures tracking the S&P/TSX Composite Index slipped on Friday as investors awaited US January inflation data for clues on the Federal Reserve’s policy trajectory. Gold gained about 1% after yesterday’s selloff, bolstering Canadian mining shares. Agnico Eagle also reported quarterly profit above expectations, supported by higher gold prices.
Meanwhile, oil prices inched lower as traders weighed prospects of a sizable supply surplus, rising inventories, and diminishing risks of a US-Iran conflict, pressuring energy stocks.
In corporate news, Air Canada projected its 2026 core profit slightly above analysts’ estimates. Investors are also looking ahead to earnings reports from Enbridge, TransCanada, Cameco, Cenovus Energy, Fairfax Financial, and Constellation Software.
