March futures on the S&P/TSX index were up 0.3%.
U.S. consumer prices in December are expected to have tempered on a year-on-year basis to a 6.5% increase from 7.1% in the previous month. The numbers are key for investors to speculate by how much the Federal Reserve could raise rates in February.
Gold and crude oil prices advanced on hopes of softer U.S. inflation print expected at 0830 ET.
Aggressive monetary policy tightening by central banks globally hammered equities in 2022, with Canadian stocks falling 8.6% last year as the Bank of Canada raised its interest rates to its highest level in almost 15 years at 4.25%.
The central bank is expected to deliver another 25-basis-point hike later this month.
On Wednesday, the Toronto Stock Exchange's S&P/TSX composite index ended up 0.6% to its highest closing level in more than five weeks, led by cyclical sectors that tend to particularly benefit from an improved economic outlook. [.TO]
In company news, U.S.-listed shares of Organigram Holdings jumped 7.2% premarket as the Cannabis producer forecast a higher revenue for 2023.
Across the border, futures for U.S.-listed shares were flat at 0715 a.m. ET. [.N]
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1,888; +0.5% [GOL/]
US crude: $78.32; +1.18% [O/R]
Brent crude: $83.66; +1.21% [O/R]
U.S. ECONOMIC DATA DUE ON THURSDAY
Monthly and Annual CPI for December at 0830 ET
Initial weekly jobless claims at 0830 ET
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$1.3422)
(Reporting by Johann M Cherian in Bengaluru; Editing by Shailesh Kuber)
