April 11 (Reuters) - Futures linked to Canada's main
stock index edged higher on Friday, as a tumultuous week
dominated by escalating tensions over U.S.-China trade kept
investors on the edge, with attention turning to the upcoming
earnings season.
The futures on the S&P/TSX index were up 0.6% at
6:14 a.m. ET (1014 GMT).
China increased its tariffs on U.S. imports to 125%,
retaliating against U.S. President Donald Trump's decision to
hike duties on Chinese goods to 145%, intensifying the ongoing
trade war between the two largest economies that threatens to
upend global supply chains.
Stocks worldwide have been on a roller-coaster ride due to
recent tariff announcements.
Earlier this week, Trump paused duties for dozens of
countries for 90 days giving markets a brief reprieve, but
concerns returned with the ongoing conflict with China, fueling
fears of a recession.
Back home, Canadian Prime Minister Mark Carney is set to
convene a meeting with his top cabinet colleagues later in the
day to discuss the threat posed by U.S. tariffs.
Looking ahead, the U.S. quarterly earnings season will pick
up pace with big banks scheduled to report before markets open,
that could offer insights into the health of corporate America.
Shares of Canadian gold miners could get support as the
safe-haven metal surpassed the key $3,200 mark for the first
time, spurred by a weaker dollar and economic concerns.
Oil prices were stable, but on track for their second weekly
loss in a row.
Base metals were mostly up and copper was headed for a
weekly rise, boosted by Trump's intent for a potential deal with
China and the decision to temporarily lower tariffs for numerous
countries.
Canada's main stock index surrendered much of its relief
rally gains on Thursday, setting the stage for a third
consecutive week of losses - the longest in nearly 10 months.
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