March 15 Reuters Futures for Canada39;s main stock index rose on Friday as copper prices surged on a potential output cut by China, while investors awaited domestic housing starts data to gauge the strength of the Canadian economy.

March futures on the SPTSX index were up 0.3 at 645 a.m. ET 1045 GMT after the benchmark SPTSX index retreated from a twoyear high in the previous session as traders revised their ratecut bets.

The focus of the day will be the materials sector that houses precious and base metals miners, as Shanghai copper prices hit a record high while prices in London touched an 11month peak, buoyed by a potential output cut in top producer China.

Gold managed to eke out gains but was set for its first weekly drop in four weeks after surprisingly hot U.S. inflation readings prompted traders to rethink imminent Fed rate cuts.

Energy shares may see a decline with Brent futures falling 0.7 to 84.85 a barrel after crossing 85 a barrel for the first time since November on Thursday.

Investors will also keep an eye on the housing data, due at 815 a.m. ET, which is expected to show that the seasonally adjusted annualized rate of housing starts rose to 230,000 units in February, according to a Reuters poll of economists, from 223,600 units a month ago.

In the U.S., futures moved slightly higher as investors braced for a Fed meeting next week that could provide clues on the timing of the central bank39;s interest rate cuts.

In domestic company news, TC Energy…