May 16 (Reuters) - Futures for Canada's main stock index

edged upwards on Thursday, as markets remained optimistic after

rate cut bets strengthened following softer-than-expected U.S.

inflation data.

June futures on the S&P/TSX index were up 0.3% at

7:15 a.m. ET (1115 GMT).

Global markets moved higher, tracking Wall Street's rally to

new record highs on Wednesday after data showed U.S. consumer

prices increased less than expected in April, increasing bets

among traders that the U.S. Federal Reserve will cut rates in

September.

The focal point later in the day will be weekly American

jobless claims for further evidence the labour market is also

cooling down.

Meanwhile, the materials index could see a rise,

buoyed by higher base metal prices amid a softer dollar.

The energy index, however, is expected to slip at

open, tracking lower crude prices.

The Toronto Stock Exchange's S&P/TSX composite index

ended up 41.42 points, or 0.2%, at 22,284.76, on

Wednesday, snapping a three-day run of declines.

Dow e-minis were up 32 points, or 0.08% at 7:15

a.m. ET, while S&P 500 e-minis were up 4.5 points, or

0.08% and Nasdaq 100 e-minis were up 28 points, or

0.15%.

In corporate news, Canada Goose beat market

expectations for quarterly revenue, backed by a strong recovery

in demand for its pricey puffer jackets in China. The U.S.

listed shares of the luxury apparel group climbed over

9% premarket.

COMMODITIES AT 7:15 a.m. ET

Gold futures: $2,389.1; -0.2%

US crude: $78.54; -0.1%

Brent crude: $82.65; -0.1%

($1= C$1.363)