Canada Stocks: TSX futures rise as gold, oil gain ahead of US jobs data

Toromont Industries

11/02/2026 11:15

Feb 11 (Reuters) - Futures tracking Canada's main stock index rose on Wednesday, supported by a jump in precious metals and oil prices, ahead of key U.S. jobs data that could offer fresh insight into the Federal Reserve's interest-rate path.

March futures on the S&P/TSX composite index SXFcv1 were up 0.33%, as of 5:52 a.m. ET.

Toronto's resources-heavy benchmark index .GSPTSE closed at a record high of 33,256.83 points on Tuesday, lifted by strength in industrial shares and extended gains in mining stocks.

Investors are looking at U.S. jobs data for January, scheduled for release at 8:30 a.m. ET, for cues on monetary policy outlook.

A Reuters survey of economists showed that nonfarm payrolls increased by 70,000 jobs last month after rising 50,000 in December.

Spot gold XAU= gained 1.4% on Wednesday as the U.S. dollar fell to a near two-week low, making precious metals more affordable. Silver XAG= jumped 6%, while copper prices also firmed.

Oil prices jumped more than 1% amid lingering U.S.-Iran tensions.

U.S. President Donald Trump said on Tuesday he was considering sending a second aircraft carrier to the Middle East, even as Washington and Tehran prepared to resume negotiations aimed at averting a new conflict.

Meanwhile, Canadian Prime Minister Mark Carney said after a conversation with Trump that the issue of a $4.7 billion bridge connecting Detroit and Windsor, Ontario, will be resolved.

Trump had threatened on Monday to bar the bridge from opening, in his latest salvo against Canada over trade issues.

In after-market earnings on Tuesday, property insurer Intact Financial IFC.TO booked a 12% jump in its net operating income for the fourth quarter, driven by strong underwriting performance.

Manufacturer Toromont TIH.TO surpassed fourth-quarter revenue estimates, while miner First Quantum FM.TO also beat fourth-quarter revenue expectations.

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 (Reporting by Utkarsh Tushar Hathi; Editing by Shreya Biswas)

 ((utkarshtushar.hathi@thomsonreuters.com))