CANADA STOCKS-Futures gain ahead of Fed rate decision

Wed Sep 21, 2016 7:40am EDT
 
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Sept 21 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Wednesday ahead of the U.S. Federal Reserve's policy decision and after the Bank of Japan announced a policy framework overhaul.

Recent hawkish and dovish comments from Fed officials have stoked volatility in financial markets, although consensus is now centred on the Fed raising rates in December.

Global sentiment got a lift after the Bank of Japan overhauled its monetary policy framework on Wednesday, switching to targeting interest rates and sidelining more than three years of massive money printing.

December futures on the S&P TSX index were up 0.43 percent at 7:15 a.m. ET.

Wholesale trade is expected to have fallen 0.2 percent in July and is due at 8:30 a.m. ET

Canada's main stock index rose to a one-week high on Tuesday as shares of banks and other financial sector companies climbed, while the energy sector weighed as oil prices hit six-week lows intraday.

Dow Jones Industrial Average e-mini futures were up 0.44 percent at 7:15 a.m. ET. S&P 500 e-mini futures rose 0.45 percent and Nasdaq 100 e-mini futures gained 0.55 percent.

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

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