Market Overview

Investing.com reported that Canadian equity markets were set to open lower on Friday as renewed weakness in the global technology sector and a sharp decline in crude oil prices weighed on sentiment. The pre‑market outlook followed a positive Thursday session in which the benchmark S&P/TSX Composite rose by 114.12 points, or 0.33%, to finish at 34,850.21, while the S&P/TSX 60 Index edged up 0.21% to close at 2,054.08.

Equity Indices and Futures

Ahead of the opening bell, S&P/TSX 60 futures slipped 0.33% to C$2,053.7, signalling a lower open. The broader market weakness was attributed to technology sector softness and the impact of falling oil prices.

U.S. Futures Context

U.S. stock index futures also fell on Friday. Nasdaq 100 futures dropped 1.46% to 29,291.00, S&P 500 futures declined 0.56% to 7,381.75, and Dow Jones futures slipped 0.18% to 52,244.00. The declines were linked to jitters over a reported possible delay of the OpenAI IPO to 2027 and a price hike by Apple on several devices due to rising memory costs.

Gold Market

Gold prices steadied after three consecutive weekly declines, finding a floor amid a resurgent U.S. dollar and expectations of further Federal Reserve rate hikes. In electronic trading, Gold Futures rose 0.43% to $4,065.15 per ounce, while the XAU/USD spot price advanced 0.57% to $4,049.58.

Oil Market

Crude oil prices fell more than 3% on Friday, extending a third consecutive weekly decline. Improved maritime traffic through the Strait of Hormuz and optimism over a potential U.S.–Iran peace agreement reduced the risk premium, despite a reported cargo‑ship attack near Oman. For the week, both WTI and Brent benchmarks were set to post losses of roughly 9%, erasing most gains made since the start of the conflict. After briefly rallying above $120 per barrel at the height of the crisis, oil prices fell 3.34% to $69.52 per barrel for WTI futures and 3.36% to $72.96 per barrel for Brent futures. The previous session had seen a more than 2% gain after a projectile struck a cargo vessel transiting near the Strait of Hormuz.

Summary of Drivers

The combined effect of technology sector weakness, a sharp decline in oil prices, and broader risk‑off sentiment from U.S. market developments contributed to the anticipated lower opening for the TSX on Friday.