Nov 1 Reuters Canada39;s main stock index rose on Friday, led by consumer discretionary and energy shares, rebounding from a selloff in the previous session as markets inch closer to next week39;s U.S. election.

The Toronto Stock Exchange39;s SPTSX composite index was up 139.83 points, or 0.58, at 24,296.7.

However, the index was set to log a weekly loss as it was partly affected by the U.S. election uncertainty and lackluster earnings from some of Wall Street39;s megacaps.

At least ten sectors on the index gained, led by the consumer discretionary sector jumping 1.6, as it benefitted from a 7.8 rise in Magna International after auto parts maker reported its thirdquarter results.

The energy sector also jumped 1, tracking a surge in oil prices after reports that Iran was preparing a retaliatory strike on Israel in the coming days.

I think there39;s probably a bit of rallying given the selloff that happened yesterday, said Kevin Headland, cochief investment strategist at Manulife Investment Management.

Headland added seasonality tends to be strong as November and December are typically strong months for the index.

Among economic data, U.S. job growth fell sharply in October, but the unemployment rate remained steady at 4.1, keeping bets on a Federal Reserve rate cut in November intact.

Market participants widely expect the Fed to cut interest rates by 25 basis points at its policy meeting next Thursday, with estimates for a similar cut in December.

Global…