Canada's main stock index futures rose on Friday, aided by a rebound in crude prices, but the benchmark index was on track for its worst weekly drop in more than two years.
June futures on the S&P/TSX index were up 0.9% at 6:53 a.m. ET.
Oil rose but prices were headed for their first weekly loss in three, as worries about inflation and China's COVID-19 lockdowns slowing global growth offset concerns about dwindling supplies from Russia.
The Toronto Stock Exchange's S&P/TSX composite index ended 0.7% lower at 19,699.05 on Thursday, its lowest closing level since May 2021.
The benchmark index, down 4.5% this week, was set to record its seventh consecutive weekly drop, hurt by recent sell-off in equity markets on concerns around an aggressive policy tightening by central banks to curb inflation.
Dow e-minis were up 235 points, or 0.74% at 6:53 a.m. ET, while S&P 500 e-minis were up 42.5 points, or 1.08% and Nasdaq 100 e-minis were up 199 points, or 1.67%.
As Canada's economy overheats, the Bank of Canada is likely to be among the first of the major central banks to lift interest rates to a more normal setting even as worries persist about record-high levels of household debt, strategists say.
(Reporting by Amal S in Bengaluru; Editing by Rashmi Aich)