TSX Edges Higher on Mining Gains, Trade Deal Optimism

Canada's main stock index, the S&P/TSX composite, showed modest gains or remained flat as investors awaited key earnings reports and updates on trade negotiations between the U.S. and its major trading partners ahead of President Donald Trump's August 1 tariff deadline. U.S. Commerce Secretary Howard Lutnick expressed confidence in securing a trade deal with the EU, though EU diplomats indicated ongoing exploration of counter-measures amid diminishing hopes for a breakthrough. Investor sentiment was cautious, with market participants advised to remain patient amid fluctuating trade talk developments. Materials and mining stocks led gains on the TSX, benefiting from rising gold prices, while energy stocks declined slightly due to lower oil prices. Investors also anticipated the Bank of Canada's Business Outlook Survey to gauge domestic business expectations amid tariff-related uncertainties. In the U.S., major tech firms including Alphabet and Tesla were set to report quarterly earnings, marking the start of the results season for key stocks known as the "Magnificent Seven."