TSX futures edge down as tech jitters weigh

Futures for Canada's main stock index ticked lower on Thursday, as renewed fears about lofty technology stock valuations following Oracle's disappointing results outweighed a widely expected rate cut from the U.S. Federal Reserve.

Futures on the S&P/TSX Composite Index (SXFcv1) were down 0.2% by 06:30 a.m. ET (1130 GMT).

Globally, risk-off sentiment prevailed following cloud giant Oracle's ORCL quarterly results and forecast that came in below expectations and revived concerns about an AI bubble.

Toronto's benchmark index TSX notched a fresh record high on Wednesday, led by financial and technology shares, after policy decisions from the Bank of Canada and the Federal Reserve met expectations.

The BoC held rates at 2.25% and the Fed lowered its benchmark funds rate by 25 basis points. But the path for further U.S. rate cuts is clouded by data gaps, inflationary pressures and expected leadership change at the Fed's helm.

Heightened expectations of the BoC hiking interest rates in 2026 after Friday's stronger-than-expected jobs data dialed down following the rate decision.

On Wednesday, U.S. Trade Representative Jamieson Greer said it made sense to discuss trade issues separately with Canada and Mexico given differences in trade relationships with both neighbors.

Among commodities, gold GOLD eased on Thursday while silver XAGUSD1! climbed to a new record. Copper HG1! prices rose on supply worries.

Oil BRN1!, CL1! prices slipped with investors shifting focus back to Russia-Ukraine peace talks.

The commodity-heavy TSX looks set to post its best year since 2009 driven by gold and metal mining shares that have driven the index to record peaks.

In company news, packaging firm Transcontinental's TCL.A fourth-quarter revenue came in below analyst expectations.

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada (EQUITYPOLL1), (EPOLL/CA)

Canadian markets directory (CANADA)