May 2 (Reuters) - Futures for Canada's main stock index surged on Friday, tracking gains in global equities as signs of potential trade talks between the U.S. and China lifted investor mood.
June futures on the S&P/TSX index (.SXFcv1), were up 0.7% at 6:40 a.m. ET (1040 GMT).
Beijing on Friday said it was "evaluating" an offer from Washington to hold talks over U.S. President Donald Trump's 145% tariffs on China, signaling that trade tensions between the world's two largest economies were easing.
But China added that Washington needed to show "sincerity" in negotiations and should be prepared to cancel its unilateral tariffs.
Trump's wavering tariffs have kept investors on the edge over the last few months, as they upended supply chains and forced some companies to pull earnings forecasts.
Optimism over potential trade talks between the U.S. and China countered the disappointment of earnings updates from tech giant Apple (AAPL.O), and Amazon.com (AMZN.O).
Canada's main stock index ended lower on Thursday as gold mining shares fell, but the index stayed in reach of a recent four-week high as investors weighed prospects of fiscal spending and welcomed recent calming of global trade tensions.
On Friday, investors will await the U.S. Labor Department's employment report and nonfarm payrolls data, due at 8:30 a.m. ET
In commodities, gold rose on bargain-hunting ahead of U.S. non-farm payrolls report. Copper prices also rose and were headed for modest weekly gains.
However, oil prices fell as traders squared positions ahead of an OPEC+ meeting, with some also expressing skepticism about a potential de-escalation of U.S.-Sino trade dispute.
In corporate news, Magna International (MG.TO), missed first-quarter profit estimates and said that it plans to implement cost-cutting measures to cushion the hit from Trump's tariffs.
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Reporting by Sanchayaita Roy in Bengaluru; Editing by Leroy Leo
