12.08.202612:42:04UTC+00TSX Futures Edge Up on Earnings and US CPI

S&P/TSX Composite Index futures edged higher on Wednesday, supported by a new round of corporate earnings and the release of July US inflation figures. Constellation Software reported an increase in second-quarter net income and exceeded consensus EPS forecasts. In contrast, Franco-Nevada posted second-quarter profit of $354 million and adjusted earnings of $1.81 per share, coming in below expectations. Investors also looked ahead to quarterly results from Metro, Hydro One, and other Canadian companies. Headline US inflation eased slightly to 3.4% in July from 3.5% in June, matching market forecasts. Together with softer US labor market data for July, the in-line inflation print may reinforce expectations of a more dovish Federal Reserve, a backdrop that typically supports credit-sensitive North American equities. Meanwhile, the Bank of Canada is widely expected to leave interest rates unchanged at its September policy meeting.