Canadian stock futures edge higher as oil falls, Macklem warns growth could drop below 1%

  • Canadian stock futures edged higher as oil prices extended losses ahead of potential U.S.-Iran talks.
  • Tiff Macklem warned fourth-quarter growth could fall below 1% under U.S. tariffs.
  • Iran reportedly offered to reopen Hormuz within seven days if U.S. eases military pressure.

Canadian stock futures edged higher Tuesday as oil prices extended their losses ahead of potential U.S.-Iran talks at this week’s UN meeting. Iran reportedly offered to reopen the Strait of Hormuz within seven days if the U.S. takes initial steps to ease military pressure. Falling oil prices supported credit-sensitive stocks after the earlier rally intensified inflationary pressures and contributed to major central banks raising interest rates. Bank of Canada Governor Tiff Macklem warned that U.S. tariffs could push fourth-quarter growth below 1%, saying future rate decisions must balance slowing growth against surging energy costs linked to the Iran conflict. Gold prices also edged lower, weighing on mining stocks.

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