Canadian stock futures rise as oil falls on US-Iran diplomacy hopes

  • Canadian stock futures rose as oil prices declined on US-Iran diplomacy hopes.
  • Oil’s retreat eased bond yields and inflation concerns tied to energy costs.
  • Bank of Canada Governor Tiff Macklem was scheduled to speak later Monday.

Canadian stock futures rose Monday as oil prices declined on hopes for diplomatic progress between the US and Iran. Iranian President Masoud Pezeshkian is expected to attend the United Nations General Assembly in New York this week, while US President Donald Trump has said he would be open to meeting him. The pullback in oil prices halted the recent energy rally, easing bond yields and concerns that higher energy costs could broaden inflationary pressures. That provided some support for credit-sensitive shares. Investors were also awaiting a speech later Monday from Bank of Canada Governor Tiff Macklem for indications about the central bank’s future policy path. Gold prices slipped, weighing on mining companies. Separately, Prime Minister Carney and French President Macron pledged closer ties to address rising geopolitical tensions, climate change and the erosion of democratic values.

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Canadian stock futures rise as oil falls on US-Iran diplomacy hopes - CoinPost Terminal