TSX futures inch up ahead of key domestic and US inflation data

Futures linked to Canada's main stock index nudged higher on Tuesday as investors awaited domestic and U.S. inflation data.

Futures on the S&P/TSX index (.SXFcv1) were up 0.2% by 06:04 a.m. ET (1004 GMT).

On Tuesday, spotlight will be on Canadian consumer price index data for June, which could guide expectations for the Bank of Canada's interest rate decision at the end of the month.

Investors also await U.S. consumer price data for June due later in the day for guidance on the Federal Reserve's policy path.

Despite U.S. President Donald Trump's renewed tariff threats, markets have largely brushed off the rhetoric, focusing instead on a breakthrough from negotiations with U.S. trade partners.

Hopes were buoyed after Trump on Monday signaled willingness to talk with the European Union and other trading partners, following his weekend warning of 30% tariffs on the EU and Mexico starting August 1.

Gold GOLD prices firmed on Tuesday. Oil prices CL1!, BRN1! were little changed after Trump's lengthy 50-day deadline for Russia to end the Ukraine war and avoid sanctions eased immediate supply concerns.

In the U.S., chip designer Nvidia NVDA announced plans to restart sales of its H20 AI chips to China. The news also lifted other U.S. chipmakers.

Wall Street's banking heavyweights are set to report on Tuesday, kicking off the second-quarter earnings season.

In company news, U.S. crypto miner Riot Platforms RIOT on Monday reported beneficial ownership of 10.29% in Canadian bitcoin miner Bitfarms BITF.

Toronto's benchmark S&P/TSX composite index TSX rose on Monday to a record high as investors focused on upcoming corporate earnings rather than the tariff threats.

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