Nov 5 (Reuters) - Futures tied to Canada's main stock

index stabilized on Wednesday after the previous session's

selloff, as higher commodity prices helped blunt a broader

risk-averse mood.

On Tuesday, the benchmark S&P/TSX composite index

sank 1.6% to a near six-week low, joining a global selloff,

after CEOs of major U.S. banks warned of a potential 10% to 15%

downturn, underscoring concerns over stretched valuations.

The futures on the S&P/TSX index were up 0.11% as

of 05:27 a.m. ET, with higher commodity prices keeping it

afloat.

Oil prices were firm, even though weaker economic data from

top importers and a rally in the U.S. dollar prevented oil from

making significant gains.

Gold prices also came to the rescue, jumping 1%, as the

global risk aversion bolstered demand for the safe-haven asset.

Overall sentiment stayed fragile as the ongoing U.S.

government shutdown neared the record duration, delaying key

data and clouding the Federal Reserve's interest-rate outlook.

In the absence of a major jobs report, investors will look

to non-official economic reports such as ADP's National

Employment Report later in the day for hints on the policy path.

In Canada, attention will be on September trade data

expected later in the day to gauge how U.S. tariffs under

President Donald Trump are affecting Canadian exports and

encouraging supply chain diversification away from the United

States.

In a bid to combat tariffs and diversify trade, Prime

Minister Mark Carney unveiled his first budget on Tuesday,

including billions in spending that could increase the deficit

by 116% this year.

In corporate news, Air Canada ( ACDVF ) on Tuesday reported

lower third-quarter profit, as strike-related cancellations and

soft U.S. travel demand weighed on results.

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

($1 = 1.4024 Canadian dollars)