December futures on the S&P/TSX index were up 0.1% at 7:06 a.m. ET (1206 GMT), in lock step with their U.S. counterparts. [.N]

The Toronto Stock Exchange's S&P/TSX composite index was lifted by rising resources shares on Thursday to log its highest close since June 8, 2022.

The benchmark index is on track to post a weekly jump of over 2% as global risk appetite got a lift after the U.S. Federal Reserve earlier in the week signaled that it could look at interest rate cuts next year.

Real estate is set to be the best-performing sector this week, while consumer staples is set to lag the most.

On the commodities front, oil prices were on the rise and on track to notch their first weekly rise in two months, benefiting from a bullish forecast from the International Energy Agency (IEA) on oil demand for next year and a weaker dollar. [O/R]

Prices of most base and precious metals were also rising on Friday. [MET/L] [GOL/]

Comments from Bank of Canada Governor Tiff Macklem who is scheduled to hold a press conference later in the day will be on the market radar.

On the data front, domestic November housing starts and preliminary readings of the U.S. December Purchasing Manager's Index (PMI) would also be on the watchlist.

Among individual stocks, software company Enghouse Systems reported a higher fourth-quarter revenue.

COMMODITIES AT 7:06 a.m. ET

Gold futures: $2,046; +0.5% [GOL/]

US crude: $71.85; +0.4% [O/R]

Brent crude: $76.84; +0.3% [O/R]

($1= C$1.3376)

(Reporting by Shashwat Chauhan in Bengaluru; Editing by Tasim Zahid)