TSX futures climb for second day as gold extends rally

(Reuters) - Futures for Canada's main stock index edged higher on Wednesday as gold prices extended gains, with investors keenly awaiting minutes from the U.S. Federal Reserve's last policy meeting for clues about further tightening.

March futures on the S&P/TSX index were up 0.4% by 0649 a.m. ET.

The benchmark Toronto Stock Exchange's S&P/TSX composite index closed 0.3% higher on Tuesday, the first trading session of the New Year, on strong support from materials firms. [.TO]

Spot gold prices extended their New Year rally to jump more than 1% on Wednesday and hit their highest since mid-June. [GOL/]

After better-than-expected data from Europe assuaged fears about how the global economy was faring thus far, all eyes are on minutes from the Fed's December meeting to gauge the outlook for future interest rate hikes. The minutes are expected at 1400 p.m. ET.

Futures for U.S. stocks ticked higher on hopes for a post-COVID recovery in the world's second largest economy, China. [.N]

COMMODITIES AT 6:49 a.m. ET

Gold futures: $1,858; +0.9% [GOL/]

US crude: $75.03; -2.4% [O/R]

Brent crude: $80.08; -2.5% [O/R]

U.S. ECONOMIC DATA DUE ON WEDNESDAY at 1000 a.m. ET

ISM Manufacturing PMI for Dec

JOLTS Job Openings for Nov

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report [.TO]

Canadian dollar and bonds report [CAD/] [CA/]

Reuters global stocks poll for Canada

Canadian markets directory

(C$1=$0.7382)

($1 = 1.3546 Canadian dollars)

(Reporting by Johann M Cherian in Bengaluru; Editing by Subhranshu Sahu)