30.06.202612:54:38UTC+00TSX Futures Edge Up on Stronger GDP Data

Futures linked to the S&P/TSX Composite Index inched higher on Tuesday as investors digested stronger-than-expected Canadian GDP data. A preliminary estimate for May pointed to a 0.1% month-over-month increase, suggesting that growth momentum may be stabilizing.

The economy grew slightly more than anticipated in April following a modest contraction in March, easing worries that a slowdown driven by tariffs was becoming more entrenched. The firmer data lifted sentiment by brightening the corporate earnings outlook and narrowing downside risks for the broader economy.

At the same time, oil prices stayed below recent highs amid signs of progress toward resolving the Middle East conflict, helping to ease energy-related inflation pressures and providing support to financials and the wider market. Gold prices were little changed after a decline in the previous session, which helped limit headwinds for mining stocks.