August 25, 2016 / 11:42 AM / a year ago

Stock futures fall ahead of Fed gathering

A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. REUTERS/Mark Blinch

August 25 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Thursday as investors took to the sidelines ahead of one of the big global central banker gatherings of the year.

The annual central bankers’ meeting in Jackson Hole, Wyoming starts later today, and will see U.S. Federal Reserve chief Janet Yellen speak on Friday.

September futures on the S&P TSX index SXFc1 were down 0.25 percent at 7:15 a.m. ET.

Canada’s main stock index posted its biggest decline in more than eight weeks on Wednesday as lower metal and oil prices sent shares of resource companies tumbling.

Dow Jones Industrial Average e-mini futures 1YMc1 were down 0.22 percent at 7:15 a.m. ET. S&P 500 e-mini futures ESc1 were down 0.23 percent and Nasdaq 100 e-mini futures NQc1 were down 0.22 percent. [.N]

(Morning News Call newsletter link.reuters.com/nex49s ; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES [TOP/CAN]

Canadian Imperial Bank of Commerce (CM.TO), Canada’s fifth-biggest lender, reported a 47 percent rise in third-quarter profit, helped by growth in its retail and business banking as well as capital markets units.

Toronto-Dominion Bank (TD.TO), Canada’s second-biggest lender, reported third-quarter earnings that were ahead of market expectations, helped by growth in its U.S. retail and wholesale banking business.

British broadcaster ITV (ITV.L) said it would not bid for Entertainment One (ETO.L) after failing to persuade the owner of the children’s TV character Peppa Pig to enter into a formal process.

ANALYST RESEARCH HIGHLIGHTS [RCH/CA]

Pretium Resources Inc (PVG.TO): CIBC raises target price to C$15 from C$14

Prometic Life Sciences Inc (PLI.TO): CIBC cuts target price to C$4.85 from C$5

Royal Bank of Canada (RY.TO): Barclays raises price target to C$74 from C$72;“underweight”

COMMODITIES AT 7:15 a.m. ET [COM/WRAP]

Gold futures GCc1: $1324; -0.03 percent [GOL/]

US crude CLc1: $46.56; -0.45 percent [O/R]

Brent crude LCOc1: $48.81; -0.49 percent [O/R]

LME 3-month copper CMCU3: $4632.5; +0.01 percent [MET/L]

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Durable goods for July: Expected 3.3 pct; Prior -3.9 pct

0830 Durables ex-transport for July: Expected 0.5 pct; Prior -0.4 pct

0830 Durables ex-defense mm for July: Prior -3.8 pct

0830 Nondefense cap ex-air for July: Expected 0.3 pct; Prior 0.4 pct

0830 Initial jobless claims: Expected 265,000; Prior 262,000

0830 Jobless claims 4 week Average: Prior 265,250

0830 Continued jobless claims: Expected 2.153 mln; Prior 2.175 mln

0945 Markit Composite Flash PMI for August: Prior 51.80

0945 Markit Services PMI flash for August: Expected 52.0; Prior 51.4

1100 KC Fed Manufacturing for August: Prior -15

1100 KC Fed Composite Index for August: Prior -6

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report [.TO]

Canadian dollar and bonds report [CAD/] [CA/]

Reuters global stocks poll for Canada EQUITYPOLL1 <EPOLL/CA>

Canadian markets directory CANADA

($1 = C$1.29)

Reporting by Sai Sharanya Khosla in Bengaluru; Editing by Saumyadeb Chakrabarty

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