TSX Futures Steady as Tech Valuation Fears Offset Policy Moves

Futures tracking the S&P/TSX Composite Index hovered near the flatline on Thursday after the benchmark hit a record high in the previous session.

Renewed concerns over stretched technology valuations outweighed a widely expected BoC rate hold and a Fed rate cut.

Global risk-off sentiment intensified after Oracle’s weak quarterly results and guidance revived fears of an AI-driven bubble, dragging tech shares worldwide.

Meanwhile,the BoC kept its policy rate at 2.25%, while the Fed cut rates by 25 basis points, though the outlook for additional easing remains uncertain amid data gaps, inflation pressures and an expected leadership change at the central bank.

Also, oil prices fell, weighing on Canadian producers, and gold also declined, pressuring miners.

In other news, Transcontinental reported fourth-quarter revenue below expectations.