(Reuters) – Futures tied to Canada’s main stock index edged higher on Thursday, after the index declined in the previous session as U.S. President Donald Trump imposed auto tariffs.
June futures on the S&P/TSX index were up 0.3% at 06:22 a.m. ET, (1022 GMT), mirroring a recovery on Wall Street.
Trump unveiled a 25% tariff on imported vehicles on Wednesday, set to take effect on April 3, a day after he plans to announce reciprocal tariffs.
Fourth quarter U.S. GDP reading is due before the bell, before a crucial inflation reading in the United States on Friday.
Precious metal miners would also be in focus on Thursday, as prices of both gold and silver ticked up amid the tariff uncertainty. Materials and mining stocks account for more than 12% of the TSX, according to LSEG data.
Global markets had rallied earlier this week when Trump indicated that not all of his threatened reciprocal levies would be imposed on April 2 and that some countries may get breaks.
But the Canadian benchmark fell 0.7% in the last session, bogged down by losses in mining and technology shares, coming off its more than three-week high notched on Tuesday.
The index is now down more than 2% from its all-time high in January.
(Reporting by Shashwat Chauhan in Bengaluru; Editing by Sahal Muhammed)
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