March 22 (Reuters) - Futures for Canada's main stock

index advanced on Friday, with stocks continuing to rise after

notching record highs in the previous session, while investors

await for more economic data to gauge the health of the Canadian

economy.

March futures on the S&P/TSX index were up 0.3% at

6:27 a.m. ET (10:27 GMT).

The benchmark index logged record highs on Thursday, helped

by gains from heavily weighted financial shares, as investors

cheered recent signs that inflation is cooling and the economy

is avoiding a recession.

Materials stocks, which include Canada's base and precious

metal miners, continue to be in focus after prices of most

nonferrous metals fell and were on track for a weekly decline,

as a stronger dollar made greenback-priced metals more expensive

to holders of other currencies.

Gold prices also slipped due to a stronger dollar, but were

set for a weekly gain as the U.S Federal Reserve's decision to

retain its interest rate-cut projection for 2024 bolstered

bullion's appeal.

In economic data, retail sales for January at 0830 ET will

be on investors' radar.

Across the border, Wall Street futures also ticked higher as

investors cheered the Fed sticking to its rate-easing stance.

Investors will be closely monitoring commentary from Fed

Chair Jerome Powell at 0900 ET, and from other Fed policymakers

through the day for further cues on the central bank's monetary

policy trajectory.

In domestic company news, activist hedge fund Starboard

Value said on Thursday it had nominated three candidates to join

the board of Canadian utility Algonquin Power & Utilities Corp ( AQNB )

.

Meanwhile, BMO Global Asset Management said on Friday it had

partnered with U.S. private equity firm Carlyle Group ( CG ) to

broaden access to private markets for Canadian investors.

COMMODITIES AT 6:27 a.m. ET

Gold futures: $2,167.7; -0.8%

US crude: $81.08; flat

Brent crude: $85.76; flat

($1= C$1.3577)