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TSX Set for Strong Start As Commodities Rise

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Canada's benchmark index looked set to open higher on Tuesday, drawing support from rising commodity prices.

Stock futures for the December quarter on the S&P TSX index were up 0.02% recently.

Oil was in the green, and Action Economics said the market continues to gyrate into next week's OPEC meeting, where expectations remain high that the cartel and non-OPEC producers will extend the current agreement to cap production. Such an outcome will keep prices supported, though gains toward $60 will likely see U.S. shale producers ramp up production, which could quickly kill a rally.

The TSX added 5 points on Monday, with tech, telecom, and financial stocks leading the advance.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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