Futures contracts linked to Canada's main stock index rose on Friday, helped by a rise in crude oil prices, after a larger decline in the previous session, ahead of key jobs data later in the United States. United.
December S&P/TSX index futures were up 0.4% as of 6:02 am ET (10:02 GMT).
The composite index fell to a three-week low on Thursday, led by broader losses led by technology stocks, but ended up posting a monthly gain.
Canada's energy sector could get a boost as oil prices soared more than a dollar a barrel after reports that Iran was preparing a retaliatory strike on Israel from Iraq in the coming days. [O/R]
The materials sector remained in focus, with gold prices firming ahead of US economic data, and copper prices rising against a weaker dollar. [GOL/] [MET/L]
Investors kept an eye on U.S. non-farm payrolls data, due later in the day, to gauge the strength of the labor market and get clues on the U.S.'s next policy decisions. Federal Reserve.
Traders expect the Fed to cut interest rates by 25 basis points at its meeting next week, with a reduction of the same magnitude in December.
Markets also braced for a hotly contested U.S. presidential election on Nov. 5, two days before the central bank's interest rate decision.
Wall Street futures rose on Friday, boosted by positive results from tech giant Amazon after a slump in the previous session, as market attention shifted to the upcoming jobs report. [.N]
Back home, investors will also analyze S&P Global Canada's Manufacturing Purchasing Managers' Index (PMI) data at 9:30 a.m. ET.
In corporate news, auto parts supplier Magna International reported third-quarter profit below analyst estimates.
RAW MATERIALS
Or : 2 750,7 $ ; +0,2 % [GOL/]
US crude: $71.2; +2.8% [O/R]
Brent : 74,71 $ ; +2,6% [O/R]
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($1 = 1.3931 Canadian dollars)
