Oct 23 (Reuters) - Futures tracking Canada’s blue-chip stocks fell on Friday, after oil prices hit their highest since May on escalation in the Middle East conflict, keeping investors concerned about prolonged inflation and higher-for-longer US interest rates.
December futures on the S&P/TSX index were down 0.28% at 06:11 a.m. ET (10:11 GMT).
Brent crude rose above $114 a barrel to its highest in more than five months, as hostilities intensified between Yemen’s Houthis and the Saudi-led coalition
Spot gold prices touched its lowest since July 17 on Friday as oil-driven inflation worries weighed on the yellow metal
Traders expect the US Federal Reserve to keep rates on hold at its policy meeting next week, with a quarter-point hike priced in for December, according to LSEG data
In Canada, markets are pricing in a quarter-point Bank of Canada rate hike next week, and nearly a percentage-point hike over the next 12 months, according to LSEG data
Canadian Prime Minister Mike Carney said engineering firm AtkinsRealis (ATRL.TO), is in the running to help build Turkey's third nuclear power plant
US President Donald Trump said on Thursday that jet maker Bombardier (BBDb.TO), will invest $270 million in the US, days after he to ban the company from the country
Investors will also assess August retail sales data, expected later in the day
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Reporting by Anand Gopal and Utkarsh Hathi in Bengaluru; Editing by Tasim Zahid
