Canadian Stocks Set to Open Higher on Oil, Metals Rally; S&P/TSX Fell 0.1% Tuesday

Canadian stocks are poised to open higher Wednesday, buoyed by firm crude oil and precious metals prices pointing to buying in energy and materials sectors, though Middle East tensions and stalled U.S.-China talks may keep sentiment cautious. West Texas Intermediate crude rose $0.98, or 1.1%, to $90.36 a barrel. Gold futures gained $65.70, or 1.57%, to $4,245.40 an ounce, while silver rose $0.532, or 0.87%, to $61.685 an ounce. The S&P/TSX Composite Index closed Tuesday at 35,460.27, down 29.59 points, or 0.1%, after early volatility. U.S. data showed the PCE price index rose 0.3% in August with annual growth at 3.4%; core PCE rose 0.2%, annual growth holding at 3%. Second-quarter GDP was revised up to 2.2%. ADP reported private-sector payrolls rose 90,000 in September, topping expectations. Asian markets closed mostly higher Wednesday; European markets pared early gains.