Dec 9 (Reuters) - Futures for Canada's main stock index rose on Wednesday, supported by higher oil prices, as optimism around COVID-19 vaccine developments and hopes of U.S. stimulus measures boosted sentiment.
December futures on the S&P/TSX index SXFc1 were up 0.2% at 1052.10 by 8:10 a.m. ET, their highest level since February.
The outgoing Trump administration proposed a $916 billion coronavirus relief package on Tuesday, after congressional Democrats shot down a suggestion for a pared-down plan. Joe Biden has vowed that his administration would vaccinate 100 million Americans during his first 100 days in office, push to reopen schools and strengthen mask mandates. Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.3% higher at 17,639 on Tuesday. .TO
At 8:15 a.m. ET, Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.2% and S&P 500 e-mini futures ESc1 gained 0.1%, while Nasdaq 100 e-mini futures NQc1 were down 0.1%.
Oil prices rose as news about COVID-19 vaccines lifted investor hopes for a recovery in fuel demand and outweighed concerns sparked by figures indicating U.S. oil inventories jumped last week. O/R
TOP STORIES TOP/CAN Canada's Dollarama Inc DOL.TO beat analysts' estimates for third-quarter sales, as customers largely staying at home due to the COVID-19 pandemic spent more on Halloween decorations and household essentials. Canada's largest electricity producer, entered the fast-growing market for storing renewable energy, where it could face competition from the likes of Tesla.
Canadian Natural Resources Ltd said it expects to raise production in 2021 and forecast capital spending to be about C$3.21 billion ($2.51 billion), higher than 2020 forecast of C$2.7 billion as the company bets on a faster rebound in demand and prices from pandemic lows.
COMMODITIES AT 8:15 a.m. ET
Gold futures GCc2 : $1,858.2; -0.75% GOL/
US crude CLc1 : $45.74; +0.31% O/R
Brent crude LCOc1 : $49.03; +0.4% O/R
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