May 9 (Reuters) - Futures for Canada's main stock index
edged lower on Thursday, as a drop in copper prices and higher
bond yields outweighed a rebound in oil, while investors awaited
more cues on the timing of interest rate cuts.
June futures on the S&P/TSX index were down 0.1% at
6:36 a.m. ET (10:36 GMT), mirroring their U.S. counterparts.
Copper prices in London dipped on a stronger dollar but the
slide was capped by China's improved trade data and property
support measures, while gold prices were little changed.
On the brighter side, oil prices rebounded as falling U.S.
crude inventories and a rise in Chinese imports last month
supported higher demand expectations for the two countries.
The yield on Canadian government bonds extended their rise
to a second day, further pressuring sentiment.
Meanwhile, a weekly reading of jobless claims is due in the
United States at 8:30 a.m. ET, which could provide more detail
on the strength of the American labour market.
Data on Friday showed that U.S. jobs growth slowed in April,
which added to bets that the Federal Reserve will commence its
easing cycle in September.
It added to investor sentiment, pushing indexes in the U.S.
and Canada to rally.
The Toronto Stock Exchange's S&P/TSX composite index
ended 0.1% lower on Wednesday, snapping its winning
streak, after tech stocks were hammered by Shopify's downbeat
forecast.
In corporate news, Nutrien ( NTR ), the world's biggest
fertilizer producer beat first-quarter profit estimates on
Wednesday.
Manulife Financial Corp ( MFC ) on Wednesday reported
better than expected quarterly profit boosted by a robust
performance in its Asia business and wealth management unit.
COMMODITIES AT 6:36 a.m. ET
Gold futures: $2,316.4; -0.3%
US crude: $79.63; +0.8%
Brent crude: $84.17; +0.7%