(Updates with morning prices)

By Avinash P

Nov 5 (Reuters) - Canada's benchmark index jumped on

Wednesday, rebounding from the previous day's selloff due to

strength in commodity-linked shares, while investors digested a

better-than-expected U.S. private payrolls reading.

At 10:07 a.m. ET, Toronto's S&P/TSX composite index

was up 0.84% to 30,027.94 points.

The gold sub-index led sectoral movement with a 2.6% rise,

tracking gold prices, as investors turned away from risky assets

to the metal's safe-haven appeal.

"Gold has been a very large part of the moves of the TSX...

So when gold is moving higher, it tends to take the market up

with it," said Allan Small, senior investment advisor at Allan

Small Financial Group with iA Private Wealth.

The region-wide materials index also made

outsized moves, rising 1.6%.

Gains on TSX were also inspired by Wall Street, where the

benchmark S&P 500 added 0.24%, after the ADP employment

report showed U.S. private payrolls rebounded sharply in

October.

Amid a U.S. government shutdown and the lack of key jobs

data, investors looked to unofficial reports for clues on the

Federal Reserve's monetary policy.

The S&P/TSX composite index has had a stellar 2025, up

21.3%, largely driven by lower borrowing costs and a rally in

gold prices. The trade tensions with the U.S., which had

influenced trading activities in the beginning of the year,

increasingly had little impact on market sentiment.

The TSX's rebound, with most sectors trading in the green,

follows a 1.6% slump in the previous session after major U.S.

bank CEOs warned of a potential equity downturn and raised

concerns over stretched valuations.

"It's just one of those things where you wake up and

everybody's questioning valuation on tech stocks, whether it's

the semiconductors or chips in general," said Small.

Meanwhile, the heavyweight energy index also

gained 2%, despite lower crude prices, with Suncor Energy ( SU )

jumping 5% after beating third-quarter profit estimates.

Among other share moves, SSR Mining ( SSRGF ) shed 10.6%

after missing third-quarter revenue estimates.

First Majestic Silver ( AG ) dropped 11% after its

third-quarter results failed to impress investors.