Before the Bell: Canadian investors face market reaction to tariff threats

Global shares slipped after U.S. President Donald Trump threatened extra tariffs on eight European countries over Greenland, and TSX futures were lower ahead of Canadian December CPI data due at 8:30 a.m. ET.

Global equities weakened after reports that U.S. President Donald Trump threatened additional tariffs on eight European countries tied to a dispute over Greenland, a move that revived trade tensions. TSX futures followed lower as markets awaited December inflation data for Canada. U.S. cash markets were closed for the Martin Luther King Jr. holiday, while oil prices slipped and gold rose to record levels. Key updates: - The tariff comments were reported as prompting a measurable market response across Europe and Asia, with major indices slipping. - TSX futures moved lower ahead of the Canadian December Consumer Price Index release scheduled for 8:30 a.m. ET. - Oil prices fell after unrest in Iran subsided, while spot gold and U.S. gold futures rose to new highs. - The Canadian dollar strengthened to about 72.01 U.S. cents, and the U.S. cash Treasury market was closed for the holiday. Summary: Market moves reflect renewed concern about trade tensions after the reported tariff threats, and a cautious tone was evident in equity, commodity and currency trading. Canadian economic releases scheduled for 8:30 a.m. ET, including CPI and Bank of Canada surveys, are the next listed data events; the situation is undetermined at this time.