Futures on the S&P/TSX index were up 0.1% at 7:10 a.m. ET (1210 GMT), after the benchmark Canadian index closed lower for a second straight session on Wednesday.
U.S. futures were mixed with the earnings season in full swing, while Tesla's upbeat quarterly results lifted sentiment on Thursday. [.N]
Investors are on the lookout for a slew of economic data out of the United States, including fourth-quarter gross domestic product (GDP) numbers, in a bid to gauge how the U.S. Federal Reserve's monetary policy tightening has taken effect on the world's largest economy.
With the Fed and European Central Bank (ECB) to announce their decision on interest rates next week, the Bank of Canada (BoC) raised its overnight lending rate by an expected 25 basis points on Wednesday.
BoC Governor Tiff Macklem said he was focused on whether interest rates would need to go higher and was not even considering a cut, pushing back against traders betting that the central bank will ease its policy as soon as October.
Commodity prices, which have a major influence on the resources-heavy TSX, were mixed.
Oil prices rose 1% on expectations that demand will strengthen as top oil importer China reopens its economy and on news U.S. crude inventories have risen less than expected. [O/R]
Copper prices were steady, while gold prices slumped against a stronger dollar. [GOL/] [MET/L]
In Canadian earnings, Celestica reported upbeat fourth-quarter results, with both revenue and earnings beating estimates.
(Reporting by Shashwat Chauhan in Bengaluru; Editing by Vinay Dwivedi)
