Canadian stock market futures climbed on Friday, buoyed by gains in metal prices. Silver and copper led the advance, while gold also edged higher, providing a lift to mining stocks. Canadian miners listed on U.S. exchanges saw premarket gains as well.
The recent oil rally showed signs of cooling, offering some respite to credit-sensitive stocks that have faced pressure from energy-driven inflation worries. Bond yields ticked up but remained below recent highs.
Bank of Canada Governor Tiff Macklem noted that interest rates had not yet been raised, but cautioned that sustained high energy prices could complicate future rate decisions. Markets are currently anticipating a rate hike at the next policy meeting.