Jan 4 (Reuters) - Futures for Canada's main stock index rose on Monday, as oil and bullion prices surged in the first trading session of the year, while investors turn their focus on manufacturing activity data due later today for cues on an economic rebound.
Brent crude LCOc1 futures and U.S. West Texas Intermediate crude CLc1 futures gained 0.95% and 0.37%, respectively, on expectations OPEC and allied producers may cap output at current levels in February.
Spot gold .XAU= jumped 1.8%, hitting its highest since Nov. 9 as the dollar slid to 2018 lows.
March futures on the S&P/TSX index SXFc1 were up 0.8% at 7:00 a.m. ET.
Investors will look out for Canada's December manufacturing activity data, which is due at 09:30 a.m. ET.
The optimism in the Canadian market followed the upbeat mood in the global markets as investors hoped the rollout of vaccines would ultimately lift a global economy decimated by the COVID-19 pandemic.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.53% lower at 17,451.95 on Thursday.
Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.5% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 gained 0.49% and Nasdaq 100 e-mini futures NQc1 rose 0.4%.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Bombardier Inc BBDb.TO : CIBC cuts to "underperform" from "neutral"
Lightspeed POS Inc LSPD.TO : RBC raises target price to C$80 from C$67
Pollard Banknote Ltd PBL.TO : Canaccord Genuity raises target price to C$40 from C$25
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2 : $1936.9; +2.21% GOL/
US crude CLc1 : $48.7; +0.37% O/R
Brent crude LCOc1 : $52.29; +0.95% O/R
U.S. ECONOMIC DATA DUE ON MONDAY
0945 Markit Manufacturing PMI Final for Dec: Prior 56.5
1000 Construction spending mm for Nov: Expected 0.9%; Prior 1.3%
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