Equities
Global markets advanced following strength on Wall Street overnight as investors maintained expectations more interest rate cuts in 2026, though a fresh decline in Oracle’s share price sent jitters through the tech sector.
Wall Street futures were mixed: Dow futures were up 0.21 per cent, S&P 500 futures slipped 0.07 per cent and Nasdaq futures were 0.48 per cent lower as of 9 a.m. ET.
TSX futures pointed higher after Canada’s main stock market closed at another record high yesterday.
“Oracle announced disappointing earnings alongside further investment in data centres, triggering fresh concerns about AI-related spending, with investors questioning whether the high level of investment will ultimately deliver the required returns,” analysts from Westpac wrote in a research note.
Overseas, the pan-European STOXX 600 was up 0.12 per cent in morning trading. Britain’s FTSE 100 edged down 0.06 per cent, Germany’s DAX advanced 0.1 per cent and France’s CAC 40 gained 0.44 per cent.
In Asia, Japan’s Nikkei closed 1.37 per cent higher, while Hong Kong’s Hang Seng rose 1.75 per cent.
Commodities
Oil prices inched lower as investors focused on a supply glut and potential Russia-Ukraine peace deal, amid concerns over Venezuelan oil supply disruptions.
Brent crude futures slid 0.31 per cent to US$61.09 a barrel. West Texas Intermediate (WTI) crude was down 0.26 per cent at US$57.45.
Some price-supportive factors remain, including the ramping up of tensions between the U.S. and Venezuela and Ukraine drone strikes on a Russian oil rig in the Caspian Sea, said Janiv Shah, analyst at Rystad Energy.
In other commodities, spot gold rose 1.2 per cent to US$4,322.25 an ounce, its highest level since Oct. 21, and set for a 2.7-per-cent weekly gain.. U.S. gold futures gained 1.3 per cent to US$4,368.60.
Currencies and bonds
The Canadian dollar strengthened against its U.S. counterpart.
The day range on the loonie was 72.53 US cents to 72.71 US cents in early trading. The Canadian dollar was up about 1.9 per cent against the greenback over the past month.
The U.S. dollar index, which weighs the greenback against a group of currencies, climbed 0.1 per cent to 98.44.
The euro declined 0.09 per cent to US$1.1729. The British pound slid 0.16 per cent to US$1.3365.
In bonds, the yield on the U.S. 10-year note was last up at 4.191 per cent.
Economic news
Japan industrial production
Germany CPI
8:30 a.m. ET: Canada’s capacity utilization for Q3.
8:30 a.m. ET: Canadian building permits for October.
8:30 a.m. ET: Canada’s wholesale trade for October.
8:30 a.m. ET: Canadian new motor vehicle sales for October.
With Reuters and The Canadian Press