Nov 11 (Reuters) - Futures tracking Canada's blue-chip stocks rose on Wednesday as gold and oil prices rebounded after sharp declines, while stronger-than-expected results from CoreWeave revived optimism around artificial intelligence.
December futures on the S&P/TSX 60 index were up 0.4% at 6:14 a.m. ET (1114 GMT).
Oil prices rose more than 1% from the previous session's two-month low, after Iran's security chief said Tehran would not allow even a single particle of enriched nuclear material to leave the country
Spot gold was up 0.5% after a sharp selloff in the previous session driven by a hot US inflation print and hawkish remarks from the Fed
Canada's main stock index closed lower on Tuesday as rate-hike expectations ramped up
On Wednesday, investor sentiment was boosted by strong results from AI infrastructure firm CoreWeave, which sparked a wave of AI optimism after the recent sharp selloff
The Nvidia-backed company said it expects to become profitable in the first half of 2028, easing concerns over its debt-funded expansion. Its shares rose 14% in US premarket trading
Meanwhile, minutes showed the Bank of Canada (BoC), which raised rates for the first time in more than three years last month, acknowledged considerable uncertainty over the inflationary impact of higher energy prices and the US trade war, but agreed that uncertainty would not prevent further policy action if needed
Markets are pricing in a 48% chance of another rate hike by the BoC, according to LSEG data
Among companies, Barrick Mining (ABX.TO), opens new tab filed for an initial public offering of its North American business in New York
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Reporting by Anand Gopal and Tharuniyaa Lakshmi in Bengaluru
