Canada stock futures hold steady as bank earnings beat estimates

Futures tracking Canada’s stock market were little changed Thursday as CIBC, TD Bank and RBC reported earnings per share and revenue above estimates, extending a largely positive week for bank results. Oil prices rebounded, lifting bond yields on renewed concerns about energy costs and weighing on credit-sensitive stocks. Geopolitical and trade risks remained in focus as Qatar’s prime minister prepared to visit Tehran for mediation efforts after the United States and Iran exchanged blame over Washington’s pledge to intensify economic pressure on Iran by sanctioning its trade partners. Canada removed seafood and fish products from its list of counter-tariffs (retaliatory import duties) on U.S. goods Wednesday, one day after announcing levies on about $20 billion of U.S. products. The United States imposed new 50% tariffs on $20 billion of Canadian imports Saturday, including autos and auto parts. BRP is scheduled to report earnings Thursday.

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