CANADA STOCKS-TSX futures gain as Fed rate cut optimism grows

Nov 26 (Reuters) - Futures tied to Canada's main stock index rose on Wednesday, following the benchmark's climb to a new record in the previous session, bolstered by weak U.S. economic data that strengthened bets on U.S. Federal Reserve rate cuts.

The December futures on the S&P/TSX index SXFcv1 were up 0.23% as of 6:31 a.m. ET.

The S&P/TSX composite index .GSPTSE closed up 1% on Tuesday, surpassing the record high of just two weeks ago. Risk appetite has increased amid prospects of lower interest rates and infrastructure spending that could stimulate economic growth.

Earlier this month, Canadian Prime Minister Mark Carney committed about C$280 billion ($198.7 billion) over five years for infrastructure and measures to boost productivity and competitiveness.

The commodity-heavy Canadian stock index has achieved multiple records with nearly 25% gains this year, boosted by a safe-haven rally in gold and the artificial intelligence-driven gains on Wall Street.

Commodity markets again showed strength on Wednesday, with gold XAU= touching two-week highs on reinforced expectations of imminent Fed rate cuts. Copper prices also advanced on similar monetary policy hopes, while oil prices CLc1, LCOc1 stabilized after recently hitting one-month lows. GOL/MET/LO/R

In corporate updates, at least three brokerages raised target price on Alimentation Couche-Tard ATD.TO following the convenience store operator's second-quarter profit beat.

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($1 = 1.4083 Canadian dollars)