CANADA STOCKS-TSX futures rebound after heavy losses in previous session
Dec 21 (Reuters) - Futures tied to Canada's main stock index rose on Thursday, indicating a rebound after the benchmark index fell over 1% in the previous session, as a global rally driven by hopes of interest rate cuts next year appeared to have stalled.
March futures on the S&P/TSX index were up 0.4% at 7:02 a.m. ET (1202 GMT), mirroring gains in their U.S. counterparts.
The Toronto Stock Exchange's S&P/TSX composite index ended the previous session over 1% lower, logging its first decline in three sessions.
Global markets have rallied since last week when the U.S. Federal Reserve hinted it could look at rate cuts next year. All three major U.S. stock indexes closed down over 1% on Wednesday.
Focus now shifts to domestic October retail sales data, the final estimate of U.S third-quarter GDP data due later in the day, and November Personal Consumption Expenditure index (PCE), the Fed's preferred inflation gauge, due Friday.
Crude oil prices were marginally lower on the commodities front, while gold prices were range-bound.
On the other hand, prices of most base metals were slipping on Thursday.
Energy and materials companies combined make up just over 30% of the benchmark Canadian stock index, as per LSEG data.
Among individual stocks to look out for, BlackBerry reported a surprise third quarter profit, but its fourth quarter revenue forecast fell short of analyst estimates.
U.S.-listed shares of the technology company were down nearly 4% in premarket trading.
COMMODITIES AT 7:02 a.m. ET
Gold futures: $2,036.3; -0.1%
US crude: $73.9; -0.4%
Brent crude: $79.36; -0.4%
($1= C$1.3337) (Reporting by Shashwat Chauhan in Bengaluru;Editing by Ravi Prakash Kumar)
