Futures linked to Canada's main stock index were little changed on Tuesday, as mounting concerns over the U.S.-Iran standoff fueled expectations that oil prices could remain elevated for an extended period.
The TSX Composite Index lost 85.92 points to close Monday at 33,818.19.
June futures edged 0.1% Monday.
Markets came under pressure after a U.S. official said President Donald Trump was dissatisfied with Iran's latest proposal to delay discussions on its nuclear program until the war ends and shipping disputes are resolved.
As of Monday's close, the benchmark index was 1.5% below its pre-war levels, highlighting how geopolitical risks were weighing on sentiment in Canada's energy-heavy market, even as firmer crude prices provide some underlying support.
The Bank of Canada and the U.S. Federal Reserve are scheduled to deliver monetary policy decisions on Wednesday.
Money markets are pricing in no change to the policy rate by the Bank of Canada this week and at least one quarter-point hike by the end of 2026
ON BAYSTREET
The TSX Venture Exchange regained 9.29 points Monday to 1,020.69.
ON WALLSTREET
U.S. stock futures were mixed early Tuesday after the S&P 500 and NASDAQ Composite posted new record highs in the previous session, while investors waded through the latest batch of corporate earnings.
Futures for the Dow Jones Industrials jumped 108 points, or 0.2%, to 49,456.
Futures for the much broader market retreated 34.5 points, or 0.5%, to 7,171.50
Futures for the NASDAQ slid 276 points, or 1%, to 27,164.50.
General Motors, meanwhile, reported better-than-expected earnings, sending shares higher by 3.8%. UPS also delivered an earnings beat, though the stock shed 3%.
The news comes during a major earnings week for the stock market, with five of the “Magnificent Seven” tech titans slated to report. Alphabet, Amazon, Meta Platforms and Microsoft are due Wednesday, while Apple’s results are set for Thursday.
In Japan, the Nikkei 225 ditched 1% Tuesday, while in Hong Kong, the Hang Seng also fell 1%
Oil prices gained $4.34 to $100.71 U.S. a barrel.
Gold prices doffed $78.40 to $4,615.60 U.S an ounce.
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