CANADA STOCKS-Metals rebound lifts TSX futures despite global AI selloff

By Reuters News

Oct 15 (Reuters) - Futures tied to Canada's resource-heavy stock index edged higher on Thursday as a rebound in precious metals and easing US Treasury yields helped offset concerns over a deepening global selloff in AI-related stocks.

December futures on the S&P/TSX index inched up 0.2% at 0605 a.m. ET (1005 GMT).

  • Spot gold and silver prices climbed more than 1% as the dollar and US Treasury yields retreated GOL/

  • The move might support mining shares after the TSX materials sector .GSPTTMT, which includes major metal producers, posted its sharpest one-day decline in nearly four months on Wednesday

  • Wednesday's losses followed stronger-than-expected US consumer inflation data for September, which fueled expectations that the Federal Reserve could raise interest rates as soon as this month

  • Global equities remained under pressure on Thursday, as investors reassessed crowded bets on data centers and other AI-linked stocks amid persistently high interest rates MKTS/GLOB

  • In Canada, markets are pricing in a 22-basis-point rate increase by year-end, according to LSEG data

  • Oil prices fell about 2% on the day as reports that the US could ease restrictions on Russia's "shadow fleet" of tankers calmed supply concerns and kept the TSX's energy sector in focus O/R

  • Investors will now watch US producer price data and Canadian factory sales figures, both due later in the day

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