May 8 (Reuters) - Futures tied to Canada's main stock index rose on Thursday, tracking a global market rally, spurred by U.S. President Donald Trump's promise of the first trade deal in his global tariff war.
June futures on the S&P/TSX index .SXFcv1 were up 0.5% at 6:07 a.m. ET (1007 GMT).
Late on Wednesday, Trump posted on Truth Social that he would hold an Oval Office news conference at 10 a.m. ET (1400 GMT) on Thursday about a "major trade deal with representatives of a big, and highly respected, country," with reports suggesting this could be the UK.
The news followed hints of negotiations with the UK.
Trump administration officials said earlier in the week that the U.S. and Chinese representatives would meet in Switzerland over the weekend for preliminary trade talks amid weeks of tit-for-tat tariffs.
On Wednesday, the Federal Reserve kept rates steady, noting rising risks of higher inflation and unemployment that could further challenge the world's biggest economy.
In commodities, gold prices fell, reversing earlier gains.
Metal prices in London were mixed ahead of the U.S.-China trade talks this weekend.
Oil prices rose 1% on Thursday.
In corporate news, Canadian Natural Resources CNQ.TO beat analysts' estimates for first-quarter profit, as it benefited from higher oil and natural gas production.
Canada's main stock index rose to a five-week high on Wednesday, led by gains for financial and technology shares, following a late rally on Wall Street and the Fed's decision to keep interest rates unchanged.
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(Reporting by Sanchayaita Roy in Bengaluru; Editing by Sahal Muhammed)
((Sanchayaita.Roy@thomsonreuters.com;))
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