Futures tracking the S&P/TSX index were down 0.2% at 7:22 a.m. ET (1122 GMT) at the beginning of a holiday-shortened week.
Most base metals retreated against a steady dollar, while crude oil prices rose supported by tighter global supply concerns brought about by escalating conflicts in the Middle East and between Russia and Ukraine, while a shrinking U.S. rig count added to upward price pressure. [MET/L] [O/R]
The Toronto Stock Exchange's S&P/TSX composite index notched its longest weekly winning streak on Friday since December 2020, as traders cheered the possibility of lower rates later in the year.
On the economic data front, January gross domestic product data (GDP) is on tap on Thursday, a day before the Good Friday holiday.
Across the border, Dow e-minis were down 88 points, or 0.22% at 7:22 a.m. ET, while S&P 500 e-minis were down 19.25 points, or 0.36% and Nasdaq 100 e-minis were down 116 points, or 0.62%. [.N]
U.S. February personal consumption expenditures (PCE) price index, the Fed's preferred inflation gauge, is due on Friday, that could stand to test investor optimism around early rate-cuts.
Among company news, Scotiabank downgraded telecom firm Telus Corp to "sector perform" from "sector outperform"
COMMODITIES AT 7:22 a.m. ET
Gold futures: $2,172.1; +0.6% [GOL/]
US crude: $80.99; +0.5% [O/R]
Brent crude: $85.77; +0.4% [O/R]
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$1.359)
(Reporting by Johann M Cherian in Bengaluru; Editing by Maju Samuel)
