TSX futures muted as markets pause after record highs

Futures for Canada's main stock index were muted on Thursday, after the index hit a series of record highs this week, while commodity prices were mixed.

December futures on the S&P/TSX index (SXFcv1) were down 0.1% at 6:00 a.m. ET (1100 GMT) in thin trading volumes.

Trading is expected to be thin as markets in the U.S. were shut for a public holiday and would trade for a shorter period on Friday.

The Canadian benchmark index notched back-to-back record highs this week, as comments from some U.S. Federal Reserve policymakers and delayed economic data pointing to a weakening economy, boosted bets on a December interest rate cut.

The TSX has largely been shielded from a global sell-off, stemming from concerns over elevated tech valuations, that knocked down major stock indexes last week, as value stocks such as energy and financials weigh heavily on the index.

It closed 0.6% lower for the week ended November 21, compared with an about 2% decline on the U.S. benchmark S&P 500 SPX and Europe's STOXX 600 SXXP.

On Thursday, oil prices edged lower on expectations that a Russia-Ukraine ceasefire could lift Russian sanctions and boost supply.

On the flip side, copper prices strengthened in Shanghai for the fourth consecutive sessions, putting the materials sector TTMT, that houses Canadian miners, in the limelight.

Among stocks, crypto firm Bitfarms BITF will be on the radar, as Bitcoin BTCUSD prices edge up over 1%.

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($1 = 1.4044 Canadian dollars)