March futures on the S&P/TSX index were down 0.1% at 7:09 a.m. ET (12:09 GMT).
Wall Street futures were mixed in the run-up to more U.S. employment data that could offer further clarity on the interest rate path. Minutes from the Federal Reserve's December meeting released on Wednesday did not provide any direct indicators about the timing of p possible rate cuts. [.N] Stock markets across the world have come under pressure in the first few sessions of the new year. Caution around Fed rate cut prospects and heightened tensions in the Middle East have weighed on investor sentiment. The Toronto Stock Exchange's S&P/TSX composite index pulled further away from a 19-month high in the previous session due to a decline in mining stocks. On Thursday, energy shares were in focus as oil prices extended gains from the prior session on concerns over supply disruptions in the backdrop of the Israel-Hamas war. [O/R] Gold prices jumped from a two-week low as a pullback in the dollar lifted demand. [GOL/] [MET/L] On the companies front, brokerage J.P.Morgan downgraded telecom firm Telus to "neutral" from "underweight." Canadian energy, power and mining companies are expected to lead a rebound in dealmaking this year, helped by lower interest rates. Money market participants are betting on 70% odds of a rate cut by the Bank of Canada as soon as April.
COMMODITIES AT 7:09 a.m. ET
Gold futures: $2,052.3; +0.5% [GOL/]
US crude: $73.53; +1.1% [O/R]
Brent crude: $78.95; +0.9% [O/R]
(Reporting by Amruta Khandekar and Purvi Agarwal in Bengaluru; Editing by Tasim Zahid)
