Nov 18 (Reuters) - Futures for Canada's main stock index

fell on Tuesday, as global investors avoided risks ahead of U.S.

economic data and earnings from AI bellwether Nvidia ( NVDA ), and as

commodity prices fell.

December futures on the S&P/TSX index fell 0.49% as

of 05:45 a.m. ET. The benchmark S&P/TSX composite index

had fallen 0.8% to a 10-day low on Monday.

Markets have turned cautious ahead of a slew of U.S.

economic data and earnings from Nvidia ( NVDA ) due on

Wednesday. Concerns about the sustainability of the artificial

intelligence spending have resurfaced and the diminishing

prospect of an imminent Federal Reserve rate cut also weighed on

sentiment.

Prime Minister Mark Carney squeaked through his first major

political test on Monday, as Parliament narrowly approved his

debut budget - averting the prospect of a second election in

less than a year.

The economic blueprint, aimed at steering Canada through a

turbulent global trade environment, doubles the fiscal deficit

to counter U.S. tariffs while funneling fresh spending into

defense and housing programs. Investors were lukewarm when the

plan first surfaced.

This comes as recent data showed October's annual inflation

eased to 2.2%. Stable prices give policymakers breathing room,

but the budget's bold deficit push signals Ottawa is betting big

on growth over austerity.

Further pressuring the futures this morning, gold prices

fell to a one-week low, down 0.3% at $4,033.29 per ounce, on

diminishing bets of a Fed rate cut.

Copper extended its fall, pressured by a stronger dollar,

while oil prices fell nearly 1%.

In corporate news, Financial Times reported that activist

hedge fund Elliott Management has built a large stake in Barrick

Mining ( B ), which puts it among the miner's 10 largest

investors.