Futures tracking the S&P/TSX Composite Index inched higher on Thursday, as investors weighed escalating tensions in the Middle East and a high-profile US-China summit. US President Donald Trump is expected to address the conflict with Iran during the talks, even as efforts to restart peace negotiations between Tehran and Washington remain stalled.
In corporate news, Canadian Tire reported first-quarter adjusted earnings that exceeded market expectations, while Keyera posted a quarterly loss. Sherritt International warned that its first-quarter financial filings may be delayed following the resignation of its external auditor and the departure of its chief financial officer.
On the economic front, Canadian home sales rose modestly in April, although prices edged lower. Meanwhile, Canada’s wholesale trade climbed 1.9% in March, surpassing economists’ forecasts.
