Dec 3 (Reuters) - Futures tied to Canada's main stock index rose on Tuesday, supported by crude prices, with a major focus on Bank of Nova Scotia's quarterly results that commences the earnings season for top domestic lenders.
December futures on the S&P/TSX index were up 0.18% at 6:00 a.m. ET (11:00 GMT).
Bank of Nova Scotia (BNS.TO), reported a higher fourth-quarter profit, as it set aside a smaller amount in rainy-day funds and earned more from interest.
The top Canadian banks over the past year had to set aside more money for bad loans as clients struggled with mortgage and loan payments due to high interest rates and elevated living costs.
Meanwhile, the energy sector could grab the spotlight as oil prices climbed nearly 1%, with traders awaiting the outcome of an OPEC+ meeting later this week.
The materials sector may benefit from gold prices that nudged up on higher expectations of a U.S. rate cut in December, while copper prices rose after a sell-off in the last session.
The composite index (.GSPTSE), ended lower on Monday as a strong U.S. dollar weighed on the commodity-heavy index.
Across the border, JOLTS job openings - a preferred gauge of Fed officials - is due later in the day, ahead of the monthly payrolls figures on Friday.
These economic indicators could dictate the U.S. Federal Reserve's interest rate decision at its Dec. 17-18 policy meeting.
Fed Governor Christopher Waller said on Monday that with inflation still forecast to fall to 2%, he is inclined "at present" to support another interest rate cut later this month.
Traders are pricing in a 70.3% chance of a quarter-point cut at this month's Fed meeting.
COMMODITIES
Gold : $2,642.64; +0.14%
US crude : $68.76; +0.97%
Brent crude : $72.47; +0.89%
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($1 = 1.4035 Canadian dollars)
Reporting by Nikhil Sharma and Ragini Mathur; Editing by Vijay Kishore
