Markets Breathe Sigh Of Relief Ahead Of U.S. Election -- Canadian Commentary

(RTTNews) - Canadian stocks are likely to rebound Monday morning, after the FBI cleared Hillary Clinton of any criminal charges in her lingering email scandal.

The former secretary of state was holding onto a slim lead over outsider Donald Trump before the FBI's latest announcement.

Markets everywhere were calmed by the news.

It was a rough week on Bay Street last week, but gold stocks provided a measure of support as the precious metal found safe haven buyers.

On Friday, the S&P/TSX Composite Index lost 74.17 points, or 0.51 percent, to 14,509.25.

In corporate news this morning, Air Canada (AC.A.TO) profit jumped more than 75% on higher passenger traffic.

Struggling drug maker Concordia (CRX.TO) reported third quarter revenue of $185.5 million, a decrease of 19.9% compared with the second quarter of 2016.

Concordia is suspending guidance as the company assesses the business under new leadership.

Energy stocks may rally today as crude oil prices steadied following last week's big retreat.

Despite a stronger dollar, December crude oil was up 50 cents at $44.59 a barrel.