CANADA STOCKS-TSX futures dip as rising oil prices rekindle inflation fears

By Reuters News11:00 (UTC), 28 September 2026 Updated

Sept 28 - Futures tracking Canada's main stock index fell on Monday, as surging oil prices revived inflation worries ahead of key Canadian and US economic data, due later this week.

December futures on the S&P/TSX index were down 0.5% at 06:12 a.m. ET (1012 GMT).

Brent crude futures gained nearly 4% to about $108.25 a barrel after US President Donald Trump rejected a peace deal from Iran to resolve their conflict and reopen the Strait of Hormuz O/R
The surge in oil prices revived concerns that energy-driven inflation shocks could keep interest rates higher for longer, limiting the room for central banks to ease monetary policy
Investors will closely watch for US GDP and Personal Consumption Expenditures inflation data this week for insights into economic growth and the Federal Reserve's policy outlook
Market participants will also have their eyes on Canadian GDP data, due on Tuesday, that could offer cues on economic momentum in the country
Meanwhile, mining stocks on the TSX could come under pressure on Monday, tracking a dip in precious metal prices
Spot gold fell more than 3% to touch its lowest in more than seven weeks, while silver dropped 4.8% GOL/
The benchmark index closed higher on Friday, supported by gains in financials .SPTTFS and consumer discretionary .GSPTTCD sectors
In company news, International Petroleum Corp IPCO.TO repurchased 148,500 shares last week under its normal course issuer bid, continuing its share buyback program