Futures for Canada's main stock index rose on Thursday as crude and metal prices rebounded, while investors await more economic data to firm bets on the interest rate path of global central banks.
The TSX Composite stumbled 253.07 points, or 1.2% Wednesday, at 20,675.02.
March futures gained 0.4% Thursday.
The Canadian dollar eked up 0.08 cents to 74.14 cents U.S.
On the companies front, brokerage TD Securities initiated coverage of oil and gas pipeline company TC Energy Corp with a "buy" rating.
Five brokerages cut price targets on oil and gas producer Birchcliff Energy after the company revised its five-year outlook to reflect slower production.
ON BAYSTREET
The TSX Venture Exchange let go of 4.26 points to close Wednesday at 553.98
ON WALLSTREET
U.S. stock futures rose slightly Thursday as the market tried to recover its footing following another losing session.
Futures for the Dow Jones Industrials docked five points to 37,453.
Futures for the S&P 500 gained 19.25 points, or 0.4%, at 4,790.50.
Futures for the NASDAQ leaped 129 points, or 0.8%, to 16,998.25.
Apple shares ticked more than 1% higher in the premarket after Bank of America upgraded them to buy, calling for more than 20% upside over the next 12 months.
Discover shares slid 9% in the premarket. The credit card company reported that its net charge-off rate climbed during the fourth quarter compared to the prior year. Discover posted fourth-quarter revenue of $4.20 billion, topping estimates of $4.10 billion, according to analysts polled by LSEG.
On the economic front, weekly jobless claims are on deck Thursday morning, as are housing starts and building permits data. Atlanta Fed President Raphael Bostic is also set to speak.
Investors worried that a strong December retail sales report, which suggests a robust consumer, could mean fewer rate cuts from the Federal Reserve than many are expecting. Currently, markets are pricing in a roughly 56% chance of a quarter percentage point rate cut in March
In Japan, the Nikkei 225 parted with 11.58 points Thursday, while in Hong Kong, the Hang Seng Index regained 0.8%.
Oil prices dropped eight cents to $72.48 U.S. a barrel.
Gold prices piled on $11.40 to $2,017.90 U.S. an ounce.
