TSX futures steady ahead of GDP data; index set for monthly gain

Futures linked to Canada's main stock index held steady on Friday as investors awaited domestic GDP data, while the benchmark remained set for its seventh consecutive month of gains.

December futures on the S&P/TSX index (SXFcv1) were flat at 1835.2 points at 06:00 a.m. ET.

The S&P/TSX composite index (GSPTSE) closed the third straight session at an all-time high on Thursday, as energy and technology shares advanced.

The resource-heavy index is set to secure both weekly and monthly gains, bolstered by the strength in gold and other commodity prices. This resilience has helped the Canadian market largely withstand the fallout from a tech stock selloff that rattled global markets lately, with major U.S. indexes heading toward monthly losses.

On Friday, Wall Street futures were frozen after a data outage at CME Group brought trading to a halt.

With the U.S. markets closed on Thursday for Thanksgiving and scheduled to open for a shortened session on Friday, trading volumes are expected to be light across markets, including Canada.

On the data front, Canadian third-quarter GDP figures are due at 8:30 a.m. ET. Analysts estimate the economy grew at an annualized rate of 0.5%, narrowly avoiding a second consecutive quarterly contraction.

In the commodity market, gold GOLD prices gained on Friday over optimism that the Federal Reserve would cut interest rates next month, while the Brent crude oil futures CL1! were up as drawn-out Russia-Ukraine peace talks kept geopolitical risks elevated.

In corporate news, brokerage CIBC upgraded Canadian National Railway's CNR stock rating to "outperformer" from "neutral."

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