September 23, 2016 / 11:47 AM / 10 months ago

CANADA STOCKS-Futures pull back after Fed-led rally

3 Min Read

Sept 23 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Friday following strong sessions after the U.S. Federal Reserve's decision to push back on its next rate increase.

December futures on the S&P TSX index were down 0.04 percent at 7:10 a.m. ET.

Canada's inflation and retail sales data are due at 8:30 a.m. ET.

The country's annual inflation rate is expected to have risen to 1.4 percent in August.

Retail sales likely rose 0.1 percent in July.

Shares of energy and financial companies led a broad rally on Canada's main stock index on Thursday as oil prices rose and investors digested the Fed's more cautious approach to future rate hikes.

Dow Jones Industrial Average e-mini futures were down 0.09 percent at 7:15 a.m. ET. S&P 500 e-mini futures fell 0.14 percent and Nasdaq 100 e-mini futures inched lower 0.13 percent.

(Morning News Call newsletter ; The Day Ahead newsletter

Top Stories

The share of homes purchased in British Columbia by foreign buyers decreased as of the end of August, data from the provincial government showed on Thursday, suggesting a new tax in the city of Vancouver was discouraging overseas buyers.

China's central bank said the National Bank Of Canada has been approved to issue up to 5 billion yuan ($750 million) of RMB-denominated bonds in the country's interbank bond market.

Analyst Research Highlights

Cascades Inc : RBC raises price target to C$15 from C$11

Goldcorp Inc : Raymond James cuts target price to $22 from $24

Tahoe Resources Inc : Raymond James raises target price to C$24.5 from C$22.25


Gold futures : $1,337.4; -0.25 pct

US crude : $46.39; +0.15 pct

Brent crude : $48.04; +0.82 pct

LME 3-month copper : $4,843.50; -0.2 pct

u.s. Economic Data Due on Friday

0945 Markit Manufacturing PMI Flash for September: Expected 51.9; Prior 52.0

1030 ECRI Weekly Index: Prior 139.6

1030 ECRI weekly annualized: Prior 8.7 pct

For Canadian Markets News, Click on Codes:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory ($1 = C$1.30) (Reporting by Astha Rawat in Bengaluru; Editing by Maju Samuel)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below