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CANADA STOCKS-TSX futures subdued after Trump's latest tariff comments

ReutersJan 24, 2025 12:06 PM

- Futures for Canada's main stock index were flat on Friday, after eight successive sessions of gains for the index, as investors refrained from big bets amid uncertainty over U.S. President Donald Trump's latest tariff threats.

March futures on the S&P/TSX index SXFcv1 were down 0.03% at 6.12 a.m. ET (1112 GMT).

In a video address to the World Economic Forum on Thursday, Trump criticized traditional U.S. allies Canada and the European Union, threatening them again with new tariffs, while expressing dissatisfaction about their trade surpluses with the United States.

Earlier this week, Trump said he was thinking about imposing 25% duties on imports from Canada and Mexico on Feb. 1.

Global markets were slightly relieved when Trump in a separate interview said he could reach a trade deal with China.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.5% higher on Thursday, buoyed by hopes of a business-friendly U.S. government.

In commodities, gold prices XAU= touched near three-month highs on Friday as Trump's calls to lower interest rates and a lack of clarity on tariffs weighed on the dollar. GOL/

Oil prices LCOc1, CLc1 remained well below $80 a barrel, after Trump said he would ask Saudi Arabia and OPEC to bring down the prices. O/R

In corporate news, TD Bank TD.TO said on Thursday that Chief Global Anti-Money Laundering Officer Herbert Mazariegos is stepping down immediately, as the bank takes remediation actions after it was fined by U.S. regulators for compliance failures.

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report .TO

Canadian dollar and bonds report CAD/ CA/

Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA

Canadian markets directory CANADA

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