2026.07.0212:53:36UTC+00TSX Futures Steady as Fed Hike Bets Ease

Futures tracking the S&P/TSX Composite Index were little changed on Thursday as investors parsed the latest US payrolls data for clues on the Federal Reserve’s policy outlook. A softer-than-expected labor market report tempered expectations for additional Fed rate hikes this year. Oil prices extended their decline and hovered near pre-conflict levels, easing energy-driven inflation pressures and bolstering the view that the Bank of Canada could adopt a more dovish stance. Geopolitical developments also remained in focus after Iran and the US concluded another round of indirect talks in Doha without a clear breakthrough, though worries about potential disruptions in the Strait of Hormuz continued to subside. Meanwhile, gold prices inched higher, offering support to mining shares. On the trade front, the US rejected an early renewal of the USMCA, leaving the agreement in place under its existing framework, with annual reviews to continue until its scheduled expiry unless member countries agree to revisions.