TSX Futures Edge Higher Ahead of U.S.-Iran Peace Talks

Futures for the main stock index in Canada edged higher on Friday morning, supported by steady energy prices and geopolitical developments. June futures on the S&P/TSX index rose 0.24%, or 4.70 points, in early trading. This follows a session on Thursday where the benchmark index closed 0.4% lower, primarily impacted by losses in the technology and energy sectors. Investors are closely watching the lead-up to peace talks between the United States and Iran which are set to take place in Islamabad this Saturday. Ahead of these discussions, Iran pointed to military actions by Israel in Lebanon as a primary obstacle to reaching a ceasefire agreement. Crude prices remained firm as the Strait of Hormuz showed little sign of fully reopening, with only a limited number of vessels passing through the waterway during the initial 24 hours of the ceasefire. While West Texas Oil futures hovered near the $100 per barrel mark, the commodity is on track for a 10% decline for the week. In the metals market, Gold slipped 0.2% but is still positioned for a weekly gain as traders factor in the possibility of earlier interest rate cuts by the Federal Reserve. Market focus is also shifting toward significant economic reports due later today, including the United States inflation data and the March employment report for Canada. Both releases are scheduled for 8:30 a.m. ET. On the corporate front, COGECO INC lowered its full-year revenue expectations following the market close on Thursday, citing challenges within its media activities and its telecommunications segment in the United States.