Canadian stock futures tracked an upbeat mood in global markets on Thursday, boosted by hopes that the Omicron coronavirus variant might be less severe than feared, with stronger commodity prices underpinning sentiment further.
March futures on the S&P/TSX index were up 0.3% at 7:00 a.m. ET.
The risk of needing to stay in hospital for patients with the Omicron variant is 40% to 45% lower than for patients with the Delta variant, according to research by London's Imperial College published on Wednesday.
Gold prices edged higher, while oil prices inched higher as signs the worst effects of the Omicron coronavirus variant might be fairly containable.
Canada's gross domestic product data is scheduled for release at 08:30 a.m. ET and it is expected to have jumped 0.8% in October, after rising 0.1% in September.
The Toronto Stock Exchange's S&P/TSX composite index ended 0.7% higher at 21,070.05 on Wednesday, a day after reporting its biggest gain since February.
Dow e-minis were up 96 points, or 0.27% at 7:02 a.m. ET, while S&P 500 e-minis were up 12.25 points, or 0.26% and Nasdaq 100 e-minis were up 30 points, or 0.19%.
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Canada will temporarily expand support programs to help people and businesses hit by the Omicron variant of COVID-19, Ottawa said on Wednesday, warning people that worse was to come as the virus spreads.
Gold producer Agnico Eagle Mines Ltd, said on Wednesday it is sending workers from three of its Canadian operations back home for at least three weeks amid rising cases of the Omicron coronavirus variant.
($1= C$1.28)
(Reporting by Amal S in Bengaluru; editing by Uttaresh.V) ((Amal.S@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 3677;))
