September futures on the S&P/TSX index were up 0.4% at 7:15 a.m. ET (1115 GMT).
Energy and material stocks are expected to get a boost, with gold prices on track to snap a three-day losing streak while copper prices firmed above their weakest level in nearly four months. [MET/L] [GOL/]
Oil prices also edged up as Russia's fuel export ban offset demand worries. [O/R]
The Toronto Stock Exchange's S&P/TSX composite index was down 423.07 points, or 2.1%, at 19,791.62, its lowest closing level since Aug. 24 and its biggest decline since September 2022. [.TO]
Global stocks took a hit on Thursday after the U.S. Federal Reserve's hawkish stance added to investor worries that higher borrowing costs will derail economic growth.
Investors will now focus on Canada's domestic retail sales data for July, due at 08:30 a.m. ET, and is expected to show a rise in sales by 0.4%, according to a Reuters poll of economists.
Money markets will also monitor the flash reading of the S&P Global manufacturing and services PMI in the U.S. for September shortly after the opening bell for more clues on the path for interest rates and the health of the U.S. economy.
Futures tracking Wall Street's main indexes inched up on Friday after concerns over interest rates battered stocks in the prior session. [.N]
Canada's biggest steelmaker Stelco Holdings is pursuing a bid for U.S. Steel Corp, Bloomberg News reported on Thursday.
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1,926.6; +0.3% [GOL/]
US crude: $90.57; +1.1% [O/R]
Brent crude: $94.09; +0.9% [O/R]
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report [.TO]
Canadian dollar and bonds report [CAD/] [CA/]
Reuters global stocks poll for Canada
Canadian markets directory
($1= C$1.3447)
(Reporting by Khushi Singh in Bengaluru; Editing by Tasim Zahid)
