(Reuters) - Futures for Canada's main stock index edged higher on Tuesday as declines in commodity prices were countered by optimistic investor sentiment tracking a recovery on Wall Street.
June futures on the S&P/TSX index were up 0.1% at 6:32 a.m. ET (10:32 GMT).
Spot gold prices fell 1% to over a two-week low amid easing concerns of an escalation in the Middle East crisis triggered profit-taking, while copper prices dipped on caution following sessions of strong price rallies. [GOL/] [MET/L]
Oil prices traded lower after a rebound on stronger economic data out of Europe and the weight of the potential fallout from any fresh U.S. sanctions on Iran's oil exports. [O/R]
Meanwhile, Wall Street futures rose marginally as investors geared up for a busy week packed with corporate earnings. [.N]
Big tech companies like Microsoft, Meta and Alphabet are set to report their quarterly earnings later in the week.
Canadian earnings will also pick pace with First Quantum Minerals, Rogers Communications and Imperial Oil among other giants set to report their figures throughout the week.
Data-wise, investors await a monthly reading of the personal consumption expenditure (PCE) in the U.S. - the Federal Reserve's preferred measure of inflation - for more cues on when the central bank could start easing borrowing costs.
A March reading of retail sales data is also due in Canada on Wednesday.
The Toronto Stock Exchange's S&P/TSX composite index ended 0.3% higher on Monday, logging its fourth consecutive session of gains, helped by technology and financial shares. [.TO]
In corporate news, TC Energy said its NGTL gas pipeline system in Alberta resumed normal operations after a rupture last week prompted the company to reduce pressure on a segment of the line.
COMMODITIES AT 6:32 a.m. ET
Gold futures: $2,302.22; -1.4% [GOL/]
US crude: $81.79; -0.1% [O/R]
Brent crude: $86.93; -0.1% [O/R]
(Reporting by Purvi Agarwal in Bengaluru; Editing by Ravi Prakash Kumar)
