March futures on the S&P/TSX index were up 0.3% at 07:16 a.m. ET.
Global shares crawled higher after a sharp decline last week following another round of strong U.S. and European data that forced investors to prepare for higher interest rates by central banks.
Last week, the Toronto Stock Exchange's S&P/TSX composite index posted its worst weekly performance so far this year.
Oil prices slid on Monday as market participants feared that further monetary tightening out of the world's largest economy would strain demand for commodities. [O/R]
Among single stocks, auto parts provider LKQ Corp said it would buy Uni-Select Inc in an all-cash deal of about C$2.8 billion ($2.06 billion).
Africa Oil Corp and MEG Energy Corp are expected to report fourth-quarterly results after the session.
Dow e-minis were up 157 points, or 0.48% at 07:16 a.m. ET, while S&P 500 e-minis were up 21.5 points, or 0.54% and Nasdaq 100 e-minis were up 78.75 points, or 0.66%.
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1,818.3; +0.06%
US crude: $76.18; -0.14%
Brent crude: $82.93; -0.2%
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory
($1 = 1.3594 Canadian dollars)
(Reporting by Johann M Cherian in Bengaluru; Editing by Savio D'Souza)
