CANADA STOCKS-TSX futures rise with corporate earnings, tariffs on watch

Aug 7 (Reuters) - Futures for Canada's main stock index on Thursday edged higher with strong corporate earnings boosting sentiment, while investors also weighed the impact of U.S. tariff implementation.

Futures on the S&P/TSX index .SXFcv1 rose 0.6% by 06:15 a.m. ET (1015 GMT), after the TSX hit a fresh record high on Wednesday.

U.S. President Donald Trump's higher tariff rates kicked in, with Canada facing a 35% rate after failing to reach a trade agreement ahead of the deadline.

Corporate earnings continued in full swing a day after e-commerce firm Shopify SHOP.TO became the index's most valuable publicly traded company after delivering an upbeat revenue forecast.

On the day, Canadian Natural Resources CNQ.TO surpassed expectations for second-quarter profit on higher oil and natural gas production.

Space firm MDA MDA.TO beat second-quarter revenue estimates driven by higher work volumes in the Satellite Systems business.

Maple Leaf Foods MFI.TO raised its fiscal-year outlook and beat second-quarter analysts' estimates for revenue and profit.

Data on Wednesday showed that the downturn in Canada's services economy eased in July with firms more optimistic about the outlook for activity, according to S&P Global's Canada services PMI.

In commodities, gold prices XAU= edged higher on safe-haven demand, driven by U.S. tariffs, while copper CMCU3 and other base metals rose on U.S.-China trade deal hopes.

Oil prices LCOc1, CLc1 steadied on a potential Trump meeting with Russian President Vladimir Putin in the coming days.

Toronto's TSX index .GSPTSE climbed to a new record high on Wednesday, boosted by Shopify, with technology shares leading gains.

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