(Reuters) - Futures tied to Canada's main stock index rose on Monday, taking cues from Wall Street peers, while investors looked ahead to a week filled with crucial domestic and U.S. economic data.
December futures on the S&P/TSX index were up 0.26% at 6:19 a.m. ET (11:19 GMT).
On Wall Street, Dow futures touched a record high and led gains among U.S. stock index futures, fueled by investor optimism over fund manager Scott Bessent's nomination as Treasury Secretary. [.N]
Bessent is expected to prioritise tax and spending cuts.
Later this week, investors will assess the U.S. Personal Consumption Expenditure report, the country's gross domestic product estimates and minutes from the Federal Reserve's policy meeting.
Back home, all eyes will be on the third-quarter annualized GDP data that is expected to miss the Bank of Canada's estimate.
The data could further solidify the extent of the Canadian central bank's interest-rate cut next month.
Traders see a 77.2% chance of a quarter-point cut in December.
The materials sector could come under pressure as gold prices dropped on profit-booking following a five-session rally to a three-week high.
U.S. President-elect Donald Trump's Treasury Secretary pick has also tempered safe-haven buying. [GOL/]
Meanwhile, the energy sector has grabbed attention as oil prices edged lower following a 6% gain last week. [O/R]
The composite index ended at a record high on Friday as industrial shares climbed and investors cheered upbeat retail sales data.
In corporate news, TD Bank is preparing to install U.S. government-ordered monitors and moved to reassure employees it had enough resources to comply with laws prohibiting money laundering.
COMMODITIES
Gold: $2,684.63; -1.03% [GOL/]
US crude: $70.87; -0.52% [O/R]
Brent crude: $74.83; -0.45% [O/R]
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