March futures on the S&P/TSX index were down 0.3% at 6:53 a.m. ET, also tracking weakness in Wall Street futures and European peers.
Investors are focused on the employment change, unemployment rate and average hourly wage for permanent employees data, due at 8:30 a.m ET. The resource-heavy Toronto Stock Exchange's S&P/TSX composite index ended down 0.4% on Thursday, led by declines in commodity-linked shares. U.S. stock index futures slipped with megacap growth companies under pressure after U.S. Treasury yields extended gains as investors assessed hawkish commentary from Federal Reserve policymakers this week. In earnings, Magna International Inc reported a nearly 80% slump in its quarterly profit, as the auto parts maker struggled with higher costs for labor, energy and from higher engineering costs related to its electrification and self-driving businesses. Gas and electricity utilities company Fortis Inc forecast an increase in its five-year capital plan to $46.1 billion in 2027 from $34.1 billion in 2022 and beat analysts' estimates for fourth quarter profits.
Silvercorp Metals Inc reported a 1% drop in its third-quarter revenue compared to the year earlier, due to a decrease in net realized selling prices for silver, zinc and lead.
COMMODITIES AT 6:53 a.m. ET
Gold futures : $1,864.8; -0.28% US crude : $79.69; +2.09% Brent crude : $86.28; +2.11% U.S. ECONOMIC DATA DUE ON FRIDAY University of Michigan Consumer Survey in Feb at 1000 ET FOR CANADIAN MARKETS NEWS, CLICK ON CODES: TSX market report Canadian dollar and bonds report Reuters global stocks poll for Canada Canadian markets directory ($1 = 1.3443 Canadian dollars) (Reporting by Shristi Achar A in Bengaluru; Editing by Rashmi Aich)
