Oct 6 (Reuters) - Futures tied to Canada's main stock index rose on Monday, extending last week's gain, suported by positive sentiment on Wall Street and rising commodity prices.
December futures on the S&P/TSX index were up 0.3% at 06:07 a.m. ET (1007 GMT).
U.S. stock index futures also advanced, building on recent momentum fueled by a wave of artificial intelligence dealmaking and softer labor market data that has strengthened expectations for an upcoming Federal Reserve interest rate cut.
The metals mining and energy sectors are poised to capture investors' attention as gold prices reached an all-time high on safe-haven demand.
Meanwhile, oil prices , surged more than 1% after OPEC+ announced a lesser-than-expected production increase for November.
Toronto's benchmark index climbed to yet another record high on Friday, led by e-commerce giant Shopify (SHOP.TO), opens new tab, whose shares closed at a record high.
The rally persisted despite disappointing domestic services PMI data, as technology stocks benefited from the ongoing enthusiasm surrounding AI that has buoyed markets throughout the past week.
This week's economic calendar features Canadian employment data that will provide crucial insights into the country's economic health and potentially influence the Bank of Canada's monetary policy direction at its upcoming meeting.
Moreover, the upcoming third-quarter earnings season in the U.S. will test whether the recent market rally is justified, as investors seek evidence that corporate performance aligns with current valuations.
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report CA/
Reuters global stocks poll for Canada ,
Canadian markets directory
Reporting by Ragini Mathur in Bengaluru; Editing by Vijay Kishore
