In the world of finance, Monday witnessed an interesting turn of events. Futures tied to Canada's main stock index showed signs of growth, taking inspiration from their Wall Street counterparts. This comes as investors eagerly await a week filled with significant economic data from both domestic and US sources.

Unraveling the Dynamics of Canadian and US Stock Markets

Stock Market Movements and Cues

December futures on the S&P/TSX index were up by 0.26% at 6:19 a.m. ET (11:19 GMT). On Wall Street, Dow futures reached a record high, driven by investor optimism due to the nomination of fund manager Scott Bessent as Treasury Secretary. Bessent is expected to focus on tax and spending cuts. This week, investors will closely examine the US Personal Consumption Expenditure report, the country's gross domestic product estimates, and the minutes from the Federal Reserve's policy meeting. Back in Canada, all eyes are on the third-quarter annualized GDP data, which is likely to fall short of the Bank of Canada's estimate. This data could have a significant impact on the Canadian central bank's decision regarding interest-rate cuts next month. Traders currently anticipate a 77.2% chance of a quarter-point cut in December.In the materials sector, gold prices dropped after a five-session rally to a three-week high, putting pressure on the sector. The selection of US President-elect Donald Trump's Treasury Secretary has also affected safe-haven buying. Meanwhile, the energy sector has gained attention as oil prices edged lower following a 6% increase last week.The composite index closed at a record high on Friday, with industrial shares climbing and investors cheered by upbeat retail sales data.In corporate news, TD Bank is taking steps to comply with laws prohibiting money laundering by installing US government-ordered monitors and reassuring employees of its resource capabilities.

Commodity Market Insights

Gold: $2,684.63; -1.03% [GOL/]US crude: $70.87; -0.52% [O/R]Brent crude: $74.83; -0.45% [O/R]For Canadian markets news, click on the following codes:TSX market report [.TO]Canadian dollar and bonds report [CAD/] [CA/]Reuters global stocks poll for CanadaCanadian markets directory($1 = 1.3959 Canadian dollars)(Reported by Nikhil Sharma in Bengaluru; Edited by Shreya Biswas)