Canadian shares look headed for a buoyant start Monday morning, tracking strong crude oil and bullion prices and gains in Asian and European markets.
Reports that the Joe Biden administration will seek to bypass Republicans to fund its stimulus proposal are likely to aid sentiment further.
On the economic front, Markit will release a report on Canada's manufacturing activity in the month of January.
The Canadian market ended sharply lower due to heavy selling across the board. The benchmark S&P/TSX Composite Index ended with a loss of 320.18 points or 1.81% at 17,337.02, after plunging to a low of 17,297.75. The Index shed 2.85% in the week.
Asian stocks ended broadly higher on Monday after AstraZeneca said it would increase its coronavirus vaccine deliveries to the EU by 30%, helping ease worries about a slow recovery caused by unexpected issues with the vaccine rollouts.
European stocks are notably higher, with investors making positive moves amid expectations of strong results and a pickup in the pace of vaccines rollout.
In commodities, West Texas International Crude oil futures are up $0.45 or 0.85% at $52.65 a barrel.
Gold futures are gaining $17.10 or 0.9% at $1,867.40 an ounce, while Silver futures are up $3.026 or 11.2% at $29.940 an ounce.
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