Canada stocks-Toronto stock futures climb as oil gains on Mideast tensions
EWC•Trade tensions and earnings remain in focus
- Focus is also on the quarterly earnings of U.S. big tech companies, including Alphabet GOOGL.O and Tesla TSLA.O, which are expected after the closing bell.
- 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.
- Separately, Canada foreign minister Anita Anand called for a de-escalation and a permanent ceasefire in the Middle East, describing the situation as "quite grave".
Toronto futures edge higher on commodity gains
July 22 (Reuters) - 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.
September futures tracking the resource-heavy S&P/TSX Composite index SXFc1 were up 0.2% at 6:54 a.m. ET, suggesting that the index could rally for a second day after Tuesday's 1.2% jump.
Oil and precious metals rise on Middle East tensions
- 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.
- Brent crude futures LCOc1 climbed 3.8% to $94.50 per barrel, while West Texas Intermediate crude traded around $87.41 a barrel. O/R
- Gold prices edged up as the dollar softened. Spot gold XAU= and silver XAG= were up 1% and 0.9%, respectively.GOL/




