©Reuters. The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada, January 23, 2019. REUTERS/Chris Helgren
(Reuters) – Futures for Canada’s main stock index remained muted on Friday, after hitting a 22-month high during a technology-fueled rally in the previous session, as weakness in commodity prices weighed on the index.
March S&P/TSX index futures were stable at 7:06 a.m. ET (12:06 GMT).
The Toronto Stock Exchange’s S&P/TSX composite index closed 0.7% higher at 21,318.08 on Thursday, its highest close since April 15, 2022.
The index was supported by gains in technology and healthcare stocks, following strong quarterly results and forecasts from chip designer Nvidia (NASDAQ:). ()
Wall Street futures also took a breather Friday after benchmark and record highs hit in the previous session. [.N]
Fed Governor Christopher Waller said Thursday that U.S. Federal Reserve policymakers should delay interest rate cuts for at least another couple of months.
The comments put pressure on commodity prices, with oil falling and set for a two-week winning streak. and prices were driven down by a stronger dollar. [O/R][GOL/][MET/L]
In Canada, investors were poised to closely monitor the next quarterly earnings of banks, including the Bank of Montreal, the Bank of Nova Scotia and the Royal Bank of Canada, next week.
According to LSEG data, financial stocks have the highest weight on the TSX, making up about 29.7% of the index.
In Canadian business news, software company Docebo reported fourth-quarter results that beat analysts’ estimates.
Oil and gas carrier Pembina Pipeline (NYSE:) reported higher fourth-quarter earnings per share than a year earlier.
GOODS AT 7:06 AM ET
: $2,023.4; +0.1% [GOL/]
U.S. crude: $77.33; -1.6% [O/R]
: $82.42; -1.5% [O/R]