May 29 (Reuters) – Futures tracking Canada’s blue-chip stocks rose on Friday as a deal to extend the U.S.-Iran ceasefire renewed hopes for an end to the Middle East conflict, while investors also awaited domestic GDP data due to be released later in the day.
June futures on the S&P/TSX 60 index were up 0.22% at 6:37 a.m. ET (1037 GMT).
• The United States and Iran on Thursday agreed to extend their ceasefire and lift restrictions on shipping through the Strait of Hormuz, sources told Reuters, though the deal still needs U.S. President Donald Trump’s signoff.
• Oil prices dipped 1.6% on Friday and were on track to register their third consecutive session of declines.
• Data released on Thursday showed U.S. inflation increased at its fastest pace in three years in April, driven by higher energy prices.
• Investors also await first-quarter GDP data for Canada, scheduled to be released later in the day.
• Currently, markets are pricing in a 97% chance of the Bank of Canada keeping interest rates unchanged at its June meeting.
• On Thursday, the Canadian central bank said the domestic financial system was in good shape, but vulnerabilities were growing.
• The country’s benchmark S&P/TSX Composite Index and the large-cap S&P/TSX 60 index are poised to record their second consecutive month of gains.
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(Reporting by Niket Nishant in Bengaluru; Editing by Jonathan Ananda)
