June 5 (Reuters) - Futures for Canada's main stock index rose on Wednesday, as rising hopes of rate cuts from the U.S. Federal Reserve to counter slowing economic growth could potentially weaken the dollar and boost gold prices.
Spot gold was up 0.7%, having clocked its highest since Feb. 21 at $1,338.34 earlier in the session.
June futures on the S&P/TSX index were up 0.37% at 7:00 a.m. ET.
Canada's reserve assets data for May is due at around 8:15 a.m. ET, while labor productivity figures for the first quarter are due at 8:30 a.m. ET.
The Toronto Stock Exchange's S&P/TSX index closed up 150.35 points, or 0.94%, at 16,166.24 on Tuesday.
Dow Jones Industrial Average e-mini futures were up 0.65% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.66% and Nasdaq 100 e-mini futures were up 0.81%.
Japan's Mitsubishi Heavy Industries Ltd, which has been developing its own regional jet programme, said on Wednesday it was in talks to buy Bombardier Inc's CRJ aircraft business.
Panamanian President-elect Laurentino Cortizo said on Tuesday his government would review a mining contract awarded to a subsidiary of Canada's First Quantum Minerals, casting a cloud of uncertainty around a key project for the firm.
Roots Corp: National Bank of Canada cuts target price to C$5.50 from C$6.50.
Prometic Life Sciences Inc: Royal Bank of Canada cuts price target to C$0.03 from C$0.70.
Canadian National Railway Co: Royal Bank of Canada cuts price target to C$127 from C$128.
BRP Inc: Citigroup raises price target to C$49 from C$45.
Cronos Group Inc: BofA Merrill Lynch raises rating to buy from underperform; price target upped to C$27 from C$17.
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1339.7; +1.06%
US crude: $53.18; -0.56%
Brent crude: $61.99; -0.11%
0815 ADP national employment for May: Expected 180000; Prior 275000
0945 Markit composite final PMI for May : Prior 50.9
0945 Markit services PMI final for May : Prior 50.9
1000 ISM N-Manufacturing PMI for May: Expected 55.5; Prior 55.5
1000 ISM N-Manufacturing Business Activity for May: Expected 58.5; Prior 59.5
1000 ISM N-Manufacturing Employment Index for May: Prior 53.7
1000 ISM N-Manufacturing New Orders Index for May: Prior 58.1
1000 ISM N-Manufacturing Price Paid Index for May: Prior 55.7
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$1 = C$1.34 Reporting by Karthick Arvinth in Bengaluru; Editing by Anil D'Silva