May 22 (Reuters) - Futures for Canada's main stock index were subdued on Thursday, as investors remained cautious ahead of an important vote in the U.S. on President Donald Trump's "big beautiful" tax bill.
June futures on the S&P/TSX index were up 0.05% at 6:05 a.m. ET (1005 GMT).
Trump's sweeping tax and spending bill cleared a crucial hurdle on Thursday and is expected to be voted on in the House of Representatives later in the morning, while investors worry it could add about $3.8 trillion over the next decade to the $36.2 trillion U.S. debt burden.
U.S. long-dated bond yields steadied near their highest in 18 months, a day after soft demand for a sale of 20-year bonds, further intensifying market worries about a worsening fiscal outlook in the world's biggest economy.
On Wednesday, Canada's finance minister François-Philippe Champagne said he had a good meeting with U.S. Treasury Secretary Scott Bessent and that both were pleased with the progress they were making. This follows Trump and Prime Minister Mark Carney's agreement earlier this month to initiate serious talks on a new relationship.
In commodities, oil prices fell 1% and copper prices in London edged lower.
Gold prices extended gains for the fourth straight session.
In corporate news, TD Bank reported a fall in second-quarter profit, as the Canadian lender stockpiled money to cover for potential bad loans in an uncertain economic environment.
Canada's main stock index pulled back from a record high on Wednesday as long-term borrowing costs climbed and investors took stock of recent gains for the market.
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report CA/
Reuters global stocks poll for Canada ,
Canadian markets directory
Reporting by Sanchayaita Roy in Bengaluru; Editing by Sahal Muhammed
Source: Reuters