TSX futures turned negative before Friday’s market open, reflecting weakness in oil prices and broad and souring sentiment about chip and AI stocks as their underlying companies seek to turn hefty investments into profits.
This article is a journalistic opinion piece which has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice.
US futures also ticked lower on tech uncertainty, led by mega-cap stocks like Apple and Alphabet, whose index dominance has become the stuff of legend since the early 2010s. Investors are also worried about news of a potential delay to OpenAI’s IPO, which could see the company go public only in 2027.
Market numbers
TSX: Up (0.33%), 34,850.21.
TSXV: Down (0.29%), 895.38.
DOW: Down (0.27%), 51,886.1.
NASDAQ: Down (1.04%), 29,074.8.
FTSE: Down (0.83%), 10,435.95.
In the headlines
T2 Metals (TSXV:TWO) has successfully delivered Canada’s newest certified copper deposit, publishing a resource estimate for its Sherridon project in Manitoba detailing 516 million pounds of copper and 254,000 ounces of gold. Multiple targets have already been identified for follow-up drilling to potentially usher the project towards a preliminary economic assessment.
We’re also following Corus Entertainment (TSX:CJR.B), which reported fiscal Q3 financial results, continuing its multi-year trend of losses, deepening its reputation as one of the greatest casualties of falling linear TV advertising demand. The company, in the midst of a proposed recapitalization, reported a C$36.5 million loss for the quarter.
Currencies
USD: Up (0.07%), US$0.7045.
GBP: Down (0.11%), £0.5329.
EUR: Down (0.16%), €0.61841.
JPY: Up (0.01%), ¥113.959.
AUD: Up (0.14%), A$1.0208.
Bitcoin: Down (0.72%), C$84,239.7.
(Conversion to C$1)
Commodities
Copper: Up (0.66%), US$6.16605.
Gold: Up (0.50%), US$4,047.02.
WTI: Up (2.60%), US$72.24.
Natural Gas: Up (1.89%), US$3.344.
To stay up-to-date on all of your market news head to Stockhouse.com.
Join the discussion: Find out what investors are saying about oil, AI stocks and Friday’s market open on Stockhouse’s stock forums and message boards.
