CANADA STOCKS-TSX futures slip as oil rally adds to inflation worries

By Reuters News

Oct 23 (Reuters) - Futures tracking Canada’s blue-chip stocks fell on Friday, after oil prices hit their highest since May on escalation in the Middle East conflict, keeping investors concerned about prolonged inflation and higher-for-longer US interest rates.

December futures on the S&P/TSX index were down 0.28% at 06:11 a.m. ET (10:11 GMT).

  • Brent crude rose above $114 a barrel to its highest in more than five months, as hostilities intensified between Yemen’s Houthis and the Saudi-led coalition O/R

  • Spot gold prices touched its lowest since July 17 on Friday as oil-driven inflation worries weighed on the yellow metal GOL/

  • Traders expect the US Federal Reserve to keep rates on hold at its policy meeting next week, with a quarter-point hike priced in for December, according to LSEG data

  • In Canada, markets are pricing in a quarter-point Bank of Canada rate hike next week, and nearly a percentage-point hike over the next 12 months, according to LSEG data

  • Canadian Prime Minister Mike Carney said engineering firm AtkinsRealis ATRL.TO is in the running to help build Turkey's third nuclear power plant

  • US President Donald Trump said on Thursday that jet maker Bombardier BBDb.TO will invest $270 million in the US, days after he dropped threats to ban the company from the country

  • Investors will also assess August retail sales data, expected later in the day

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