Canadian stock futures edged higher Monday as investors tracked a rebound in precious metals prices, with gold and silver advancing after recent volatility. S&P/TSX 60 index futures gained 3 points, or 0.1%, while the broader S&P/TSX composite index surged 1.49% Friday to 32,470.98, driven by a recovery in gold prices following a sharp decline earlier in the week. The rally in mining shares provided a partial offset to weakness in Canadian tech stocks, which had been caught in a broader AI-driven selloff in U.S. software names.

U.S. stock futures traded slightly lower at the open, with investors cautious ahead of key economic data releases delayed by a short-lived government shutdown. The January U.S. employment report is now due Wednesday, while the consumer price index is set for Friday. These releases will be closely watched for signs of cooling inflation and potential Federal Reserve rate cuts later this year. Wall Street's main averages had rallied Friday, with the Dow Jones Industrial Average briefly crossing 50,000 for the first time ever, the S&P 500 gaining nearly 2%, and the tech-heavy Nasdaq climbing roughly 2.2%.

The rebound was led by chipmakers and AI-related stocks, which had borne the brunt of heavy selling amid concerns over technology disruption and stretched valuations. Investors will also digest corporate earnings this week, including reports from Coca-Cola, Ford, and tech names like ON Semiconductor, Datadog, Spotify, Cisco, and Applied Materials. The tech sector had seen sharp selloffs earlier in the week as investors rotated out of high-growth names amid worries that rapid AI advances could disrupt software business models and pressure profit margins.

Quick Fact: The S&P/TSX composite index jumped by 1.49% to 32,470.98 points on Friday.