(Reuters) -Futures tied to Canada’s commodity-heavy main stock index rose on Monday, led by gains in gold prices, as investors awaited remarks from a slate of Federal Reserve policymakers and weighed concerns over a possible U.S. government shutdown.
Futures on the S&P/TSX index gained 0.55% to 1,765.80 points by 05:57 a.m. ET (0957 GMT).
The benchmark index edged higher on Friday after data showed Canada’s monthly gross domestic product rebounded from three months of contraction to grow 0.2% in July, suggesting the economy may be avoiding a recession.
Meanwhile, an in-line U.S. inflation print on Friday helped keep rate cut bets alive.
In commodities, gold prices surged over $3,800 an ounce for the first time on Monday, while oil and copper prices inched down.
Investors were focused on the rising risk of a partial U.S. government shutdown as congressional Democrats and Republicans reached an impasse over how to continue funding the federal government.
A shutdown could affect financial markets by limiting the operations of financial regulators and delaying the publication of key economic data.
With several Fed policymakers scheduled to speak throughout the day, investors will keep a close watch for any signs of concern about the potential loss of economic visibility.
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(Reporting by Sanchayaita Roy in Bengaluru; Editing by Shreya Biswas)
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