March futures on the S&P/TSX index were down 0.5% at 7:07 a.m. ET (1207 GMT), mirroring losses in their U.S. peers, on the last trading day of a lackluster week.
Gold prices dipped as the dollar strengthened and bond yields moved higher, with traders scaling back expectations of early rate cuts from the U.S. Federal Reserve. [GOL/]
Uncertainty around when the Fed will commence its easing cycle and rising geopolitical tensions have stalled a risk rally that started towards the end of last year.
Oil prices, however, continued their march upwards on growing Middle East supply concerns. [O/R]
The Toronto Stock Exchange is on track for its first week of declines after three straight weekly gains, though the index regained some ground in the prior session on a boost from industrial stocks.
Focus is now on the U.S. nonfarm payrolls report for December, due at 8:30 a.m. ET (1330 GMT), for more clarity on the state of the labor market.
Brookfield Asset Management said on Friday it would buy American Tower Corp's (ATC) loss-making Indian operations for $2.5 billion.
Services of wireless carrier Rogers Communications were briefly disrupted for more than 55,000 users in Toronto on Thursday due to a technical issue.
COMMODITIES AT 7:07 a.m. ET
Gold futures: $2,045.8; -0.2% [GOL/]
US crude: $72.68; +0.7% [O/R]
Brent crude: $77.95; +0.5% [O/R]
(Reporting by Purvi Agarwal and Amruta Khandekar in Bengaluru; Editing by Shilpi Majumdar)
