Futures for stocks in Canada’s largest market rose on Thursday as oil and metal prices gained following steep losses in the last two sessions on fears of an impending global recession.

The S&P/TSX was off 104.58 points to conclude Wednesday at 18,729.66.

September futures gained 0.5% Thursday.

The Canadian dollar collected 0.28 cents to 76.98 cents U.S.

On the economic slate, Canada’s merchandise exports rose 4.1% in May, a fifth consecutive monthly increase. Meanwhile, imports decreased 0.7%.

As a result, Canada’s merchandise trade surplus with the world widened from $2.2 billion in April to $5.3 billion in May, the largest trade surplus since August 2008.

Elsewhere, the IVEY Purchasing Managers Index for June is due around 10 a.m. EDT

ON BAYSTREET

The TSX Venture Exchange tumbled 13.59 points, or 2.2% Thursday, to 602.35.

ON WALLSTREET

U.S. stock futures were slightly higher on Thursday morning as Wall Street looked to build on a modest winning streak.

Futures for the Dow Jones Industrials hiked 136 points, or 0.4%, early Thursday to 31,149.

Futures for the S&P 500 took on 12.75 points, or 0.3%, to 3,861. The S&P 500 on Wednesday posted its first three-day winning streak since late May.

The benchmark is on pace for its second positive week in three and now sits about 20% off its record high.

Futures for the NASDAQ Composite index jumped 45.25 points, or 0.4%, to 11,925.50.

Chipmakers were higher in premarket trading after South Korea’s Samsung posted an 11% jump in profit and 21% surge in revenue for the latest period on strong sales of memory chips.

Shares of Micron, AMD and Nvidia were all higher in pre-market trading by more than 1%.

Another notable early mover was GameStop, which popped 9% in pre-market trading after the video game retailer said a four-for-one stock split was approved by its board.

Shareholders at the market close on July 18 will get a dividend of three additional shares for each of GameStop’s Class A common stock, the retailer said. The dividend will be distributed after trading closes on July 21.

Meanwhile, Levi Strauss is set to report earnings Thursday after the bell.

On the economic front, traders will parse through the latest reports on weekly jobless claims and international trade that are due out Thursday before the bell. The U.S. Labor Department’s official jobs report is due out on Friday.

In Japan, the Nikkei 225 rumbled higher 1.5% Thursday. In Hong Kong, the Hang Seng edged up 0.3%

Oil prices climbed $1.02 to $99.55 U.S. a barrel.

Gold prices tacked on $4.50 to $1,741 U.S. an ounce.