Futures for Canada's main stock index rose on Thursday after crude prices advanced, while investors repriced their expectations of the first rate cut to May by the U.S. Federal Reserve.
The TSX Composite retreated 205.99 points to close Wednesday to 21,021.88.
March futures were up 0.3% Thursday.
The Canadian dollar dropped 0.07 cents to 74.36 cents U.S.
In corporate news, Rogers Communications topped analysts' expectations for quarterly wireless subscriber additions, while Canada Goose forecast its fourth-quarter revenue above expectations.
A top U.S. bank regulator on Wednesday imposed a $65 million fine on the Royal Bank of Canada's American unit, City National Bank, over gaps in the lender's risk management and internal controls.
On the economic docket, the Markit Manufacturing PMI in Canada for December will be handed down later this morning (about 9:30 a.m.)
ON BAYSTREET
The TSX Venture Exchange dropped 8.64 points, or 1.6%, to end Wednesday’s session at 550.14.
ON WALLSTREET
S&P 500 futures rose Thursday following a dismal day for the major averages after the Federal Reserve held steady on rates but signaled that a March cut is unlikely.
Futures for the Dow Jones Industrials index inched higher 21 points, or 0.1%, to 38,301.
Futures for the S&P 500 captured 16 points, or 0.3%, at 4,886.50.
Futures for the NASDAQ gained 74.5 points, or 0.4%, to 17,316.75.
Qualcomm shares dipped 2% even after the chipmaker reported fiscal first-quarter results that topped earnings and revenue estimates, citing strength in handset chips sales.
Merck, Peloton Interactive and Royal Caribbean are reporting their latest results Thursday before the open. Mega-cap tech stocks Amazon, Apple and Meta Platforms report after the close.
On the economic front, investors will turn their attention to weekly jobless claims, the ISM manufacturing index and construction spending reports on Thursday. The January jobs report is set to release Friday.
In Japan, the Nikkei 225 tailed off 0.8% Thursday, while in Hong Kong, the Hang Seng Index regrouped 0.5%.
Oil prices soared 74 cents to $76.51 U.S. a barrel.
Gold prices dipped $17.90 to $2,049.50 U.S. an ounce.
