TSX Futures Slip on Tech Weakness

TSX Futures Slip on Tech Weakness

Futures tracking the S&P/TSX Composite Index edged lower on Friday, following broader technology-driven weakness on Wall Street.

North American tech stocks reversed earlier gains as concerns over hyperscaler AI spending outweighed upbeat demand signals from Micron and Qualcomm.

Energy shares also came under pressure as oil prices fell back to pre-conflict levels on easing supply concerns, with more tankers exiting the Strait of Hormuz.

This was despite Iran claiming its right to control shipping in the Strait and warning Gulf states against siding with the US, a day after an attack on a vessel near Oman underscored the fragility of the preliminary peace deal.

Separately, Canada and Japan are advancing cooperation on mining projects, including potential joint stockpiling.

Gold prices also edged higher, offering support to mining stocks.

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