Premarket: U.S. stocks set to open higher

U.S. stock futures pushed higher and global stocks firmed as Italy prepared to approve austerity measures and economic data gave investors hope.

Britain's FTSE 100 rose 0.4 per cent, while France's CAC 40 and Germany's DAX were little changed. Japan's Nikkei rose 0.3 per cent, while Hong Kong's Hang Seng gained 1.4 per cent.

Dow futures gained 47 points, or 0.4 per cent, rising to 11,869, while S&P 500 futures were 6.8 points, or 0.6 per cent, higher at 1,218.50.

Italian government bonds rallied just before Italy's government faced a confidence vote in parliament. The vote was called to speed up approval of a 33-billion euro ($43-billion U.S.) austerity package intended to restore confidence in the euro zone's third-largest economy.

Investors also took heart after U.S. jobless claims dropped sharply last week to 366,000, the fewest since May 2008, and a report from the Federal Reserve of New York showed that its index measuring regional manufacturing jumped to the highest level since May.

Greece's creditors are also making progress on determining how much private bondholders should contribute to the country's international bailout, a senior troika official said on Friday.

Gold rallied, after a sharp pullback in the four previous sessions. U.S. gold rose almost 1 per cent to $1,592.50.

Copper gained 1.6 per cent to $7,330 a tonne.

U.S. crude oil rose 0.5 per cent to $94.37 a barrel.

The Canadian dollar climbed, trading at 96.96 U.S. cents.