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
Spot gold rebounded 0.7% as investors assess US Federal Reserve officials' comments hinting more interest rate hikes to combat inflation
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
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Reporting by Anand Gopal in Bengaluru; Editing by Vijay Kishore
