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CANADA STOCKS-Canada futures gain as oil retreat cools inflation fears

By Reuters News

Nov 2 (Reuters) - Futures tracking Canada's blue-chip stocks rose on Monday as weaker oil prices eased inflation concerns, while investors turned their focus to the upcoming US midterm elections.

December futures on the S&P/TSX index were up 0.22% at 06:22 a.m. ET (1123 GMT).

  • Brent crude slipped more than 4% after Iranian and Qatari officials held a third straight day of talks aimed at pushing for a deal to end the US-Israeli war on Iran O/R

  • Spot gold rebounded 0.7% as investors assess US Federal Reserve officials' comments hinting more interest rate hikes to combat inflation GOL/

  • Markets are pricing in a 72.8% chance that the Fed will raise interest rates at its December policy meeting, according to CME Group's FedWatch Tool

  • Canada's main stock index .GSPTSE fell to its biggest one-day drop in nearly six months on Friday, with technology and metal mining shares leading the declines

  • Investors are also watching Tuesday's US midterm elections and their broader impact on fiscal policies

  • Attention is also turned towards earnings from companies, with Toromont Industries TIH.TO and Topaz Energy TPZ.TO set to report after market close

  • Separately, US President Donald Trump said on Sunday his administration has a framework for a new trade deal with Canada, while Prime Minister Mark Carney said the leaders held constructive talks on the future of bilateral trade

  • Canada is making rapid progress in diversifying its trade and security ties around the world with a goal of doubling its non-US trade in the next decade, Foreign Minister Anita Anand said on Saturday

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

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