Feb 3 (Reuters) - Futures for Canada's main stock index rose on Wednesday as crude oil prices reached 11-month highs, helped by a fall in U.S. inventories, while optimism over U.S. fiscal stimulus also lifted sentiment.
Brent crude LCOc1 futures rose 0.8% and U.S. West Texas Intermediate crude CLc1 futures advanced 0.57%, after OPEC+'s forecast that the market will be in deficit in 2021 fuelled demand recovery hopes. O/R
March futures in the S&P/TSX index SXFc1 were up 0.09% at 7:00 a.m. ET.
Data for Canada's total reserve assets for January is due at 8:15 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 1.08% higher at 17,883.36 on Tuesday. .TO
Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.09% at 7:00 a.m. ET. S&P 500 e-mini futures ESc1 were up 0.37% and Nasdaq 100 e-mini futures NQc1 were up 0.66%. .N
TOP STORIES TOP/CAN
Canada has signed its first deal to allow a foreign coronavirus vaccine to be manufactured domestically, Prime Minister Justin Trudeau said on Tuesday as new cases began to drop steadily. Oil Ltd IMO.TO , one of Canada's biggest oil producers and refiners, posted a quarterly loss on Tuesday and warned that the hit to fuel demand resulting from the coronavirus pandemic may drag on well into 2021. RESEARCH HIGHLIGHTS RCH/CA
TMX Group Ltd X.TO : Scotiabank cuts target price to C$148 from C$152
Onex Corp ONEX.TO : Canaccord Genuity raises target price to C$88 from C$84
Linamar Corp LNR.TO : CIBC raises target price to C$83 from C$81
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2 : $1,834.7; +0.13% GOL/
US crude CLc1 : $55.05; +0.57% O/R
Brent crude LCOc1 : $57.92; +0.8% O/R
U.S. ECONOMIC DATA DUE ON WEDNESDAY 0815 ADP (NASDAQ:ADP) national employment for Jan : Expected 49,000; Prior -123,000 0945 Markit Composite Final PMI for Jan : Prior 58.0 0945 Markit Services PMI Final for Jan : Prior 57.5 1000 ISM N-Manufacturing PMI for Jan : Expected 56.8; Prior 57.2 1000 ISM N-Manufacturing Business Activity for Jan : Expected 57.3; Prior 59.4 1000 ISM N-Manufacturing Employment Index for Jan : Prior 48.2 1000 ISM N-Manufacturing New Orders Index for Jan : Prior 58.5 1000 ISM N-Manufacturing Price Paid Index for Jan : Prior 64.8
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