Feb 12 (Reuters) - Futures tracking Canada's main stock index rose on Thursday, mirroring moves on Wall Street, after unexpectedly strong U.S. jobs data signaled a stable labor market.
March futures on the S&P/TSX composite index were up 0.28%, as of 5:48 a.m. ET, tracking a similar-sized move in U.S. stock future indexes.
U.S. employers added more jobs in January than widely expected, signaling a steady labor market, which dented hopes for more interest-rate cuts from the Fed in the near term.
Investors will also keep an eye on the inflation data from the U.S. due on Friday.
Toronto's resources-heavy benchmark index ended 0.01% lower on Wednesday, pulling back from an intra-day record high, as weakness in tech stocks offset gains in commodity-linked stocks.
On Thursday, spot gold declined 0.34%, and silver 0.7%. A firmer dollar also pressured the prices of precious metals. [GOL/]
Lower interest rates reduce the opportunity cost of holding non-yielding gold.
Meanwhile, oil prices eased after early gains in the day as traders assessed the supply outlook amid lingering fears of a U.S. attack on Iran, and rising crude inventories in U.S. [O/R]
U.S. President Donald Trump said after talks with Israeli Prime Minister Benjamin Netanyahu on Wednesday that they had yet to reach a definitive agreement on how to move forward with Iran but that negotiations with Tehran would continue.
In aftermarket earnings on Wednesday, Canada's Manulife Financial reported a lower fourth-quarter profit, while its peer Sun Life reported a jump in profit for the same quarter.
The U.S. House of Representatives on Wednesday narrowly backed a measure disapproving of Trump's tariffs on Canada, although it is unlikely to garner enough support in Congress to overcome an expected Trump veto.
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(Reporting by Utkarsh Tushar Hathi; Editing by Shreya Biswas)
