Jan 3 (Reuters) - Futures tracking Canada's main stock

index rose on Friday, following Wall Street futures, while

investors awaited more economic data to anticipate the interest

rate path in both countries.

March futures on the S&P/TSX index were up 0.27% at

5:55 a.m. ET (10:55 GMT). With no major corporate news or data

due on the day, investors awaited employment data later in the

month for fresh catalysts.

Oil prices dipped on the day but were still poised

for weekly gains, offering support to Canada's energy stocks.

The Toronto Stock Exchange's S&P/TSX composite index

ended higher on Thursday, and looks set to close the

holiday-shortened week on an upbeat note, clawing back some of

its December decline.

The index gained nearly 18% in 2024, its biggest yearly

advance since 2021. However, it was down 3.6% in December as a

hawkish shift by the Federal Reserve contributed to expectations

of higher long-term U.S. borrowing costs.

Canadian manufacturing activity grew at its fastest pace in

nearly two years in December, the domestic Purchasing Managers'

Index data showed on Thursday, supported by export sales as U.S.

clients built up inventories ahead of potential trade tariffs.

With U.S. President-elect Donald Trump set to assume office

on January 20, a promised 25% tariff on all imports from Canada

looms large.

Meanwhile, the U.S. Labor Department reported a decline in

initial and continuing unemployment claims in the previous week,

supporting the robust jobs market narrative and suggesting the

central bank might keep interest rates steady at this month's

policy meeting.

Investors are now awaiting next week's monthly employment

data from Canada and the U.S. for insights into the monetary

policy direction in both countries.

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