05.08.202612:51:01UTC+00TSX Futures Climb as Earnings Take Focus

Futures tied to the S&P/TSX Composite Index rose on Wednesday as investors digested a new round of corporate earnings. Shopify posted second-quarter revenue of $3.58 billion, a 34% increase from a year earlier, beating forecasts and projecting third-quarter growth above Wall Street expectations. The company’s U.S.-listed shares jumped in premarket trading. Thomson Reuters also reported a 9% rise in second-quarter revenue, topping estimates, and raised its full-year organic revenue growth outlook to about 8%. Manulife Financial and Nutrien are scheduled to report results later today. On Tuesday, Suncor exceeded expectations for adjusted second-quarter profit. Meanwhile, gold prices advanced—bolstering mining stocks—as investors weighed reports of an imminent agreement to reopen the Strait of Hormuz, a development that could ease inflation pressures and lower the chances of near-term Federal Reserve rate hikes.