CANADA STOCKS-TSX futures fall ahead of US economic data

Oct 30 (Reuters) - Futures tied to Canada's main stock index fell on Wednesday as cautious investors awaited key economic data from the United States in the run up to the U.S. presidential election next week.

December futures on the S&P/TSX index were down 0.1% at 6:25 a.m. ET (10:25 GMT).

Investors were squarely focused on major U.S. economic data, including advance third-quarter gross domestic product figures and the ADP National Employment report due later in the day.

The looming U.S. elections gave a bout of jitters to the global markets as investors weighed the prospect of Donald Trump's victory.

Wall Street futures rose on Wednesday as investors cheered Google parent Alphabet's strong quarterly results, which marked the beginning of this week's earnings from five of the "Magnificent Seven" megacap companies.

Canada's energy sector could benefit with oil prices climbing as markets weighed a potential ceasefire between Israel and Hezbollah as well as the rising OPEC+ crude supplies against a possible drop in U.S. fuel stocks and demand concerns.

Materials shares came under focus as gold prices hit a record high on safe-haven demand ahead of the U.S. election, while copper prices remained muted.

The TSX composite index ended slightly lower on Tuesday as rising long-term bond yields pressured interest-rate sensitive stocks.

In corporate news, Air Canada (ACDVF) will increase direct flights between China and Canada from December, the news arm of China's aviation regulator said, after Ottawa removed a 2022 limit on how many services Chinese carriers could fly to Canada.

COMMODITIES

Gold: $2,785.12; +0.38%

US crude: $67.62; +0.6%

Brent crude: $71.51; +0.6%

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Canadian markets directory ($1 = 1.3910 Canadian dollars) (Reporting by Nikhil Sharma in Bengaluru; Editing by Shreya Biswas)