TSX futures moved up before Thursday’s market open, driven by a rebound in the price of gold and an accompanying dip in inflation worries, with investors bringing a dose of Canada Day cheer into the tail end of a shortened trading week.
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US futures were slightly lower, however, with non-farm payrolls data showing 57,000 jobs added last month, well short of the consensus expectation of 110,000, which will serve to deter the Federal Reserve from an interest rate cut to control inflation spurred on by conflict in the Middle East. Peace discussions between the US and Iran took place in Doha on Wednesday with early signs of cooperation towards a definitive agreement.
Market numbers
TSX: Up (0.10%), 34,856.99.
TSXV: Up (0.65%), 896.90.
DOW: Up (0.33%), 52,427.4.
NASDAQ: Down (0.14%), 29,805.6.
FTSE: Up (0.49%), 10,514.58.
In the headlines
Top gold miner Agnico Eagle Mines (TSX:AEM) reported a rock mass movement on Canada Day at its Canadian Malartic complex in Quebec, with no injuries, equipment damage or environmental harm sustained. As a precaution, the company has temporarily suspended mining at the affected Barnat open pit, which has been subject to enhanced monitoring due to areas of weaker geology. As geotechnical assessments get underway, Agnico Eagle estimates gold production to fall by up to 380,000 ounces through 2028.
In other commodity news, later today, Alberta Premier Danielle Smith is expected to shed light on her government’s plan to build a new pipeline to the West Coast carrying up to one million barrels of bitumen per day, significantly expanding the Canadian energy industry‘s leverage on the global stage.
Currencies
USD: Down (0.03%), US$0.7031.
GBP: Down (0.36%), £0.5277.
EUR: Down (0.23%), €0.61686.
JPY: Down (0.69%), ¥113.602.
AUD: Up (0.01%), A$1.0204.
Bitcoin: Up (2.12%), C$87,113.4.
(Conversion to C$1)
Commodities
Copper: Down (0.13%), US$6.15209.
Gold: Up (0.96%), US$4,069.70.
WTI: Down (2.62%), US$68.45.
Natural Gas: Down (0.97%), US$3.164.
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