(RTTNews) - Lower Canadian and U.S. futures point to a weak start for Canadian stocks on Thursday. The mood in the market is likely to remain cautious amid uncertainty about Iran and the U.S. reaching a quick peace deal.
Iranian President Masoud Pezeshkian said Tehran had "consistently honored its commitments" and explored every avenue to avoid war. He insisted that "all paths remain open" from Iran's side as US President Donald Trump said he could wait a few more days for the "right answer".
In a post on X, Pezeshkian said forcing Iran to surrender through coercion was "nothing but an illusion" and argued that "mutual respect in diplomacy is far wiser, safer, and more sustainable than war."
Iran's Supreme Leader Mojtaba Khamenei has reportedly issued a directive that the country's near-weapons-grade uranium should not be sent abroad, hardening Tehran's stance on one of the main US demands at peace talks.
In company news, TELUS Corporation (TU.TO) has announced that it plans to invest over $8 billion over the next five years to expand and enhance its network infrastructure and operations across Québec, Canada. The company expects the investment in key projects to deliver critical infrastructure to strengthen the country's independence and leadership on the global stage.
On the earnings front, CAE Inc. (CAE.TO) is slated to report its quarterly earnings this afternoon.
Canadian stocks climbed higher on Wednesday as U.S.-Iran peace talks progressed with high momentum, easing concerns of inflation and raising optimism on the reopening of the Strait of Hormuz.
The benchmark S&P/TSX Composite Index ended with a strong gain of 420.58 points or 1.25% at 34,161.82. after trading firm right through the session.
Asian stocks moved higher on Thursday, lifted by encouraging quarterly earnings from Nvidia, and slight optimism about U.S.-Iran peace talks.
The major European markets are down in negative territory, weighed down by concerns about a lack of progress in Iran peace talks, and weak regional economic data.
West Texas Intermediate Crude oil futures are up $2.87 or 2.9% at $101.13 a barrel.
Gold futures are down $29.30 or 0.65% at $4,506.00 an ounce, while Silver futures are lowr by $1.066 or 1.4% at $75.115 an ounce.
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