Canada stock futures inch higher as bank earnings offset trade tensions

Futures tracking Canada’s stock market edged higher Tuesday as investors assessed earnings from major banks and continuing U.S.-Canada trade tensions. BMO reported higher third-quarter profit, supported by strong performance in its capital markets business, while Scotiabank’s profit increased on higher interest income. National Bank is scheduled to report earnings tomorrow, followed by RBC, TD Bank and CIBC on Thursday. Trade concerns remain after President Donald Trump threatened to raise U.S. tariffs on all Canadian cars, trucks and automotive parts to 50% starting January 1, 2027. Oil prices fell despite a new U.S. sanctions threat against Iran, easing some pressure on financials and broader markets that have faced energy-driven inflation concerns. Gold also declined as profit-taking and a firmer dollar limited gains ahead of U.S. PCE data, weighing on mining stocks.

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