September futures on the S&P/TSX index were up 0.3% at 7:28 a.m. ET (1128 GMT), while S&P index' U.S. counterparts were mixed. [.N]
Recent U.S. economic data showed signs of cooling inflation, boosting hopes that the Fed might end its aggressive rate hike cycle by the end of this year.
Major metal prices rose on a weakened dollar, while oil hovered above $81 a barrel with bullish sentiment over U.S. demand bolstered by supply disruption in Libya and Nigeria. [MET/L] [O/R]
Gold edged lower having gained in the previous five sessions as growing expectations of a pause in U.S. interest rate hikes set bullion on course for its biggest weekly gain since April. [GOL/]
Investors are also awaiting a domestic manufacturing monthly sale data for May due before market open.
Earlier this week, the Bank of Canada had lifted lending rates as expected to 5.00% and indicated further hikes as the central bank looks to bring down sticky inflation.
Meanwhile, dock workers at ports along Canada's Pacific coast and their employers accepted a tentative wage deal on Thursday, ending a 13-day strike that disrupted trade at the country's busiest port and risked worsening inflation.
The Toronto Stock Exchange's S&P/TSX composite index rose to a near eight-week high on Thursday and closed 1% higher.
The markets also monitored second-quarter earnings from major Wall Street banks, including JPMorgan, Citigroup and Wells Fargo.
Brokerage CIBC upgraded gold miner Equinox Gold Corp to "neutral" from "underperformer".
COMMODITIES AT 7:28 a.m. ET
Gold futures: $1,961.3; -0.1% [GOL/]
US crude: $76.8; -0.1% [O/R]
Brent crude: $81.29; -0.1% [O/R]
($1 = 1.3115 Canadian dollars)
(Reporting by Siddarth S in Bengaluru; Editing by Shweta Agarwal)
