TSX futures moved higher before Monday’s market open after the US and Iran vowed to pause their tit-for-tat attacks, raising hopes for peace talks and lower oil prices ahead, though uncertainties about the upcoming USMCA review on July 1st and a recent dip in gold prices have investors vacillating about near-term market momentum.
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US futures also turned positive as investors acknowledged the temporary cease in violence in and around the Strait of Hormuz, balanced with the fact that this tenuous truce follows Iranian drone and missile attacks on Bahrain and Kuwait only this past weekend in response to US airstrikes.
Market numbers
TSX: Up (0.37%), 34,980.
TSXV: Up (0.05%), 895.84.
DOW: Up (0.58%), 52,056.1.
NASDAQ: Up (0.54%), 29,424.9.
FTSE: Up (0.22%), 10,498.60.
In the headlines
Montreal’s Deep Sky has made history as the first company in North America to provide carbon removal credits using direct air capture technology, delivering them to none other than Microsoft and Royal Bank of Canada. The technology removes carbon directly from the air, as opposed to during industrial processes, and is expensive to scale, but represents added optionality for mega-cap tech companies looking to offset their AI-related emissions. Deep Sky also has deals in place with TD, Lufthansa and Engie, with full-scale Canadian operations planned in the near future.
From carbon in the air to precious metals underground, Newfoundland-based New Found Gold (TSXV:NFG) has received conditional approval to list on the TSX, bringing its district-scale, multi-million-ounce project portfolio to a potentially much larger investor base. The small-cap company already trades on the NYSE American under the ticker NFGC.
Currencies
USD: Down (0.13%), US$0.7034.
GBP: Down (0.32%), £0.5318.
EUR: Down (0.23%), €0.61748.
JPY: Down (0.02%), ¥113.922.
AUD: Down (0.16%), A$1.02.
Bitcoin: Up (0.56%), C$84,976.
(Conversion to C$1)
Commodities
Copper: Down (0.18%), US$6.18717.
Gold: Down (1.31%), US$4,036.51.
WTI: Down (3.52%), US$69.70.
Natural Gas: Down (1.54%), US$3.256.
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