20.01.202614:09:06UTC+00Canadian Stocks Set for Pullback

Futures for the Canadian S&P/TSX Composite Index declined sharply on Tuesday after the index hit a new high of 33,090 in the previous session. This downturn paralleled a global decline in equities, driven by concerns over reduced trade between the US and major international partners and increased stress in sovereign bond markets. The significant banking sector was among the key contributors to the drop, mirroring similar trends across North America as rising tensions between the US and the EU over Greenland introduced policy uncertainty within the United States. Similarly, the Canadian tech sector faced downward pressure despite its relatively smaller presence on the Toronto Exchange. Meanwhile, companies in the resource sector benefited from rising commodity prices. Natural gas prices spiked across North America due to forecasts of cooler weather, and political uncertainty among NATO members drove bullion prices to new highs.