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18.12.202514:16:10UTC+00Canada Stock Market Seen Opening Higher

Futures linked to the S&P/TSX Composite Index saw a modest uptick on Thursday, mirroring a generally positive global sentiment, and appeared set to break a four-day losing streak. Investors were encouraged by a US Consumer Price Index (CPI) report that came in lower than expected, potentially setting the stage for the Federal Reserve to introduce further interest rate cuts next year. Concurrently, oil prices experienced a slight rise as the market assessed the possibility of additional US sanctions on Russia and potential supply chain interruptions due to the blockade of Venezuelan oil tankers, benefiting Canadian energy firms. Conversely, gold prices dipped, exerting pressure on domestic mining companies. Furthermore, optimism persisted surrounding cannabis stocks, following reports suggesting that President Trump might contemplate easing federal regulations on marijuana. This buoyancy saw Canopy Growth continue its upward trajectory, building on a nearly 5% increase from the previous trading session.

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