June 30 (Reuters) - Canadian stock index futures rose on
Tuesday, as higher commodity prices and easing geopolitical
tensions put the main benchmark on track for a strong quarterly
performance.
Futures on the S&P/TSX index were up 6.20 points, or
0.30%, at 06:29 a.m. ET, signaling a positive open for the
markets.
* Optimism around AI and signs of a resilient global economy
despite several headwinds have supported global stock markets
this year.
* Canada's S&P/TSX Composite Index was on track
for its eighth straight quarter of gains, the benchmark's
longest winning streak since January 1995-October 1996.
* The index was poised for a 6.3% rise in the second
quarter, still lagging U.S. peer S&P 500, which is on
track for a 14% gain.
* The rally in oil prices on the back of the Middle East
conflict has helped Canada's energy index outperform
this year with a near 25% jump.
* But crude prices have retreated sharply in recent weeks on
signs of progress in ending the Middle East conflict, weighing
on Canada's commodity-heavy stock index. Brent crude
prices edged up to $73.16 on Tuesday.
* Gold miners, which carry sizeable weight in the TSX index,
have come under pressure as spot gold prices head for their
worst quarter since 2013.
* Investors will also keep a close eye on U.S. economic data
this week, including the June non-farm payrolls report, for
clues on the Federal Reserve's monetary policy path. Canada's
April GDP data is due at 8:30 a.m. ET.
* Meanwhile, U.S. President Donald Trump's administration is
expected to formally declare on Wednesday that it will not
extend the U.S.-Mexico-Canada Agreement (USMCA) on trade,
starting a decade-long clock to wind down the 32-year-old North
American free trade zone as the three countries haggle over
proposed changes.
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory