June futures on the S&P/TSX index were up 0.1% at 6:40 a.m. ET (10:40 GMT).
Spot gold prices climbed as risks of a widening Middle East conflict raised its safe-haven appeal, overshadowing pressures from prospects of higher-for-longer U.S. interest rates. [GOL/]
London copper hit its highest in 22 months, supported by a softer dollar. [MET/L]
On the other hand, oil prices extended losses as investors switched focus to signs that a wider conflict in the key Middle East could be avoided, as well as demand concerns. [O/R]
Meanwhile, investors awaited fresh clues to gauge when the central banks' would commence their easing cycle, both at home and in the United States.
Data-wise, a weekly reading of jobless claims is due in the U.S. at 8:30 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index ended 0.1% higher on Wednesday, snapping a five-session losing streak, lifted by mining stocks. [.TO]
Gains on the index were contained after the Canadian federal budget proposed raising a tax on investment profits, with the measure coming into effect in June.
In corporate news, TC Energy said on Wednesday it does not anticipate any service interruptions from the rupture of its NGTL gas pipeline in Alberta, which caused a wildfire on Tuesday.
In the U.S., corporate earnings momentum continues with several regional financial institutions set to report their quarterly numbers before the opening bell.
COMMODITIES AT 6:40 a.m. ET
Gold futures: $2,384.7; +0.4% [GOL/]
US crude: $81.84; -1.0% [O/R]
Brent crude: $86.34; -1.1% [O/R]
(Reporting by Purvi Agarwal in Bengaluru; Editing by Ravi Prakash Kumar)
