Lower Canadian and U.S. futures point to a weak start on Bay Street, but oil and metal prices may boost resource stocks. Major Canadian banks are set to announce earnings this week, starting with Bank of Nova Scotia on Tuesday. The S&P/TSX Composite Index closed at a new record high on Friday, amid expectations of a U.S. Federal Reserve rate cut. Asian stocks were mixed, European markets are weak, and oil futures are up at $59.18 a barrel. Gold and silver futures are also gaining. Canadian manufacturing activity report is due at 9:30 AM ET.

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