CANADA STOCKS-TSX futures climb over 1% as Democrats seize Congress; key data in focus

By Reuters News11 hours ago Updated

Nov 4 (Reuters) - Futures tracking Canada's blue-chip stocks rose over 1% on Wednesday after Democrats swept both chambers of Congress in the US, while investors await key data later in the week.

December futures on the S&P/TSX index were up 1.3% at 6:04 a.m. ET (1104 GMT).

Democrats seized control of both the Senate and House in the US on Tuesday, scoring sweeping victories in Republican strongholds for the first time in generations as voters delivered a scathing rebuke to President Donald Trump
Global stocks rallied from recent lows after the election results, even as concerns grew that the AI industry's rapid growth could face greater regulatory scrutiny MKTS/GLOB
Spot gold rose 2.9%, while Brent crude slipped 1.3% as investors are now awaiting Washington's next move in the US-Israeli war on Iran GOL/ O/R
Meanwhile, investors are looking ahead to Canada's employment report due on Friday, with a Reuters poll indicating the economy likely added 13,600 jobs last month while the unemployment rate held at 6.5%
Traders are also watching key US payrolls data later in the week for fresh clues on the Federal Reserve's monetary path
Canada's main stock index .GSPTSE fell to a nearly four-week low on Tuesday as shares of Shopify and Thomson Reuters lost ground after reporting quarterly results
Among company news, integrated oil and gas producer Suncor Energy SU.TO surpassed analysts' expectations for third-quarter profit on Tuesday
On the data front, Greater Toronto Area home sales rose in October, ending a three-month decline, as lower prices helped offset higher borrowing costs, data showed