© 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 were muted on Friday after hitting a 22-month high on a tech-fueled rally in the previous session, while weakness in commodity prices weighed on the index.
March futures on the S&P/TSX index were flat at 7:06 a.m. ET (12:06 GMT).
The Toronto Stock Exchange’s S&P/TSX composite index ended 0.7% higher at 21,318.08 on Thursday, its highest close since April 15, 2022.
The index was boosted by gains in technology and healthcare stocks, after chip designer Nvidia (NASDAQ:)’s strong quarterly results and forecast. ()
Wall Street futures also paused for breath on Friday after the benchmark and the hit record closing highs in the previous session. [.N]
Fed Governor Christopher Waller said on Thursday U.S. Federal Reserve policymakers should delay interest rate cuts by at least another couple more months.
The comments pressured commodity prices, with oil down and set to snap a two-week winning streak. and prices were pulled down by a stronger dollar. [O/R][GOL/][MET/L]
In Canada, investors were poised to keenly monitor upcoming quarterly earnings from banks including Bank of Montreal, Bank of Nova Scotia and the Royal Bank of Canada next week.
Financial stocks have the highest weightage on the TSX, constituting about 29.7% of the index, according to LSEG data.
In Canadian corporate news, software firm Docebo reported its fourth-quarter results above analysts’ estimates.
Oil and gas transporter Pembina Pipeline (NYSE:) reported a higher fourth-quarter profit per share than the previous year.
COMMODITIES AT 7:06 a.m. ET
: $2,023.4; +0.1% [GOL/]
US crude: $77.33; -1.6% [O/R]
: $82.42; -1.5% [O/R]
This story originally appeared on Investing
