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. [.N]
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% [GOL/]
US crude: $79.69; +2.09% [O/R]
Brent crude: $86.28; +2.11% [O/R]
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 [.TO]
Canadian dollar and bonds report [CAD/] [CA/]
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)
