* TSX set for quarterly gains but lags U.S. S&P 500
* Energy stocks among top performers this year
* Trilateral USMCA review scheduled for Wednesday
June 30 (Reuters) - Canada's main stock index dipped on
Tuesday as metal miners came under pressure for a second day,
but the benchmark was on course for an eighth straight quarter
of gains helped by a resilient economy and easing geopolitical
tensions.
The Toronto Stock Exchange's S&P/TSX Composite Index
was down 0.1% by 10:08 a.m. ET, still on track to register its
longest quarterly winning streak since January 1995-October
1996.
* The benchmark index was poised for a 6.3% gain in the
second quarter of the year, lagging behind U.S. peer S&P 500
, which is on track for a 14% gain.
* "The Canadian market, for the most part, has been largely
earnings driven," said Angelo Kourkafas, senior global
investment strategist at Edward Jones Investments.
* "It has lagged U.S. and some other indices because of its
commodities tilt. But markets are ready to enter a new quarter
from a solid footing."
* The rally in oil prices due to the Middle East conflict
helped Canada's energy index outperform other sectors
with a 25% jump this year.
* But crude prices have retreated sharply in recent weeks on
signs of progress in ending the conflict, weighing on Canada's
commodity-heavy stock index. Brent crude prices edged up
to $73.29 on Tuesday.
* Gold miners, part of the broader basic materials index
which has a 16% weight in the TSX, came under pressure as spot
gold prices headed for their worst quarter since 2013.
* Investors will 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 economy rebounded more than expected in April,
data showed, following a slight contraction in the previous
month.
* 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.