Canada Stocks: TSX futures rebound as oil prices ease

Descartes Systems group

11/09/2026 11:35

Sep 11 (Reuters) - Futures tracking Canada's blue-chip stocks edged higher on Friday, as investors weighed prospects of a deal to resume shipping in the Middle East that eased oil prices and improved sentiment ahead of U.S. inflation data.
September futures on the S&P/TSX index SXFcv1 were up 0.42% at 06:14 a.m. ET, putting the index on track to snap a four-day losing streak.
Risk appetite got a boost as oil prices slipped 3.6% to pare early gains after the Financial Times reported that foreign ministers in the Middle East are exploring a deal with Iran to resume shipping in the Strait of Hormuz. O/R
Spot gold XAU= rose 0.7%, recovering from nearly a 2% decline in the previous session, while silver prices also gained after a 5% drop on Thursday.
Renewed escalation in the Middle East, rising bond yields and signs of resilience in the U.S. economy have increased bets for a Federal Reserve rate hike, souring market sentiment in recent days.
Canada's benchmark stock index .GSPTSE slipped to a nearly six-week low on Thursday and has shed 2.8% for the week.
Investors are now looking ahead to the U.S. Consumer Price Index (CPI) report, due later in the day, for clues on the Fed's monetary policy path.
Traders are pricing in nearly 70% chances of a rate hike next week, according to CME Group's FedWatch tool, following a largely in-line producer inflation report on Thursday.
Meanwhile, Prime Minister Mark Carney said on Thursday Canada has agreed a C$350 million aid package for Kyiv to acquire air defense interceptors.
In corporate news, logistics software firm Descartes Systems Group DSG.TO reported second-quarter revenue slightly above analysts' estimates.
     
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 (Reporting by Darshan Kumar and Utkarsh Hathi in Bengaluru; Editing by Sahal Muhammed)
 ((darshan.kumar@thomsonreuters.com))