Futures tracking Canada's main stock index edged higher on Wednesday as commodity prices rose, while investors assessed the impact of widening Middle East conflict alongside fresh U.S. tariffs on Canadian imports.
The TSX popped 408.76 points, or 1.2%, to wind up Tuesday at 35,369.08
September futures gathered 0.2% early Wednesday.
The Canadian dollar took on 0.05 cents to 70.94 cents U.S.
Renewed tensions between the United States and Iran drove oil prices to their highest levels in over a month as concerns mounted over disruptions to key Middle Eastern supply routes.
Prime Minister Mark Carney said late Tuesday he and Donald Trump agreed to intensify trade negotiations after the U.S. president unveiled plans for 50% tariffs on a wide range of Canadian imports.
Canada even canceled a planned joint celebration with its neighbor to mark the opening of the Gordie Howe International Bridge between Windsor, Ontario and Detroit, citing trade threats from Trump.
ON BAYSTREET
The TSX Venture Exchange catapulted 23.30 points, or 2.7%, Tuesday to 873.07.
ON WALLSTREET
Stock futures fell on Wednesday, pressured by a rise in oil prices, as investors looked ahead to another busy day of corporate earnings.
Futures for the Dow Jones Industrials sank 105 points, or 0.2%, to 52,338
Futures for the S&P 500 eased 27 points, or 0.4%, to 7,518.75
Futures for the NASDAQ Composite dwindled 240.5 points, or 0.9%, to 29,066.50
Earnings take center stage again on Wednesday, with reports due from ServiceNow, International Business Machines, Tesla, Texas Instruments and Alphabet.
Investors will be watching closely for updates on AI spending, cloud demand, corporate technology budgets and the outlook for the second half of the year.
Investors remain focused on whether strong demand for AI infrastructure and software will continue to justify elevated valuations across the technology sector as earnings season accelerates.
In Japan, the Nikkei 225 faded 0.2%, while in Hong Kong, the Hang Seng gave up 1%.
Oil prices leaped $3.33 to $87.67 U.S. a barrel.
Gold prices $43.60 to $4,120.00 U.S an ounce.
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