March futures on the S&P/TSX index were down 0.2% at 7:23 a.m. ET (12:23 GMT).

Investors are looking out for the crucial Canadian jobs report, due Friday, to gauge the strength of the country's labour market and the Bank of Canada's monetary policy path.

Minutes from the central bank's last meeting, published on Wednesday, showed that the members of the BoC's governing council were concerned about cutting borrowing costs prematurely amid persistent inflation when they decided to keep the key overnight rate on hold on Jan. 24.

Separately, a weekly reading of jobless claims in the United States is due at 8:30 a.m. ET.

Mining stocks on the TSX were poised to extend losses from the previous session as base metals traded in weak territories on concerns over rising inventories and the impact of China's property sector woes. Spot gold prices also moved lower, reversing from marginal gains earlier. [GOL/] [MET/L]

Energy stocks are expected to gain after oil prices rose as investors assessed the impact of Israel's rejection of a ceasefire offer from Hamas and unexpected drops in U.S. fuel stocks. [O/R]

After a year-long slump, Canada's housing market is showing early signs of recovery, as realtors say pent-up demand, chronic shortage of homes, a spike in rents and hopes of an interest rate cut may fuel a rally in the sector that could reignite inflation.

The Toronto Stock Exchange's S&P/TSX composite index ended 0.1% higher on Wednesday, supported by industrial and technology stocks.

Among individual stocks, Canada's second-biggest life insurer, Sun Life Financial, reported a 10% rise in fourth-quarter core profit on Wednesday after the closing bell.

Meanwhile, business jet maker Bombardier forecast better-than-expected 2024 revenue on Thursday.

COMMODITIES AT 7:23 a.m. ET

Gold futures: $2,032.2; -0.5% [GOL/]

US crude: $74.65; +1.1% [O/R]

Brent crude: $80.09; +1.1% [O/R]

(Reporting by Purvi Agarwal in Bengaluru; Editing by Vijay Kishore)