CANADA STOCKS-Futures down as commodities edge lower
Feb 28 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Tuesday as commodity prices largely edged down ahead of a speech by U.S. President Donald Trump. Investors are shifting their attention to Trump's policy speech to a joint session of Congress on Tuesday night, when he is expected to provide clues on his economic plans. March futures on the S&P TSX index were down 0.14 percent at 7:15 a.m. ET. Canadian Producer Prices data is due at 8:30 a.m. ET. The Toronto Stock Exchange's S&P/TSX composite index closed down 0.45 percent on Monday, as gold stocks declined sharply, while the heavyweight financial services group also lost ground. Dow Jones Industrial Average e-mini futures were up 0.04 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.01 percent and Nasdaq 100 e-mini futures were up 0.01 percent. (Morning News Call newsletter here ; The Day Ahead newsletter here) TOP STORIES Valeant Pharmaceuticals International Inc reported a 12.9 percent fall in quarterly revenue, its third straight quarter of a double-digit percentage decrease, as sales declined across its businesses and realized prices fell. Bank of Nova Scotia , Canada's third-biggest lender, reported improved first-quarter earnings that were just ahead of expectations, benefiting from a strong performance in the Pacific Alliance trade bloc. Bank of Montreal , Canada's fourth-biggest lender, on Tuesday reported first-quarter earnings which were well ahead of market expectations benefiting from strong performances across all of its businesses. ANALYST RESEARCH HIGHLIGHTS Yellow Pages Ltd : TD Securities cuts target price to C$11 from C$16 George Weston Ltd : Barclays raises target price to C$133 from C$127; rating "overweight" Tricon Capital Group Inc : Raymond James raises target price to C$13 from C$12.50 COMMODITIES AT 7:15 a.m. ET Gold futures : $1252; -0.43 percent US crude : $53.91; -0.26 percent Brent crude : $55.76; -0.3 percent LME 3-month copper : $5925; -0.15 percent U.S. ECONOMIC DATA DUE ON TUESDAY 0830 GDP 2nd estimate for Q4: Expected 2.1 pct; Prior 1.9 pct 0830 GDP sales preliminary for Q4: Expected 1.0 pct; Prior 0.9 pct 0830 GDP cons spending preliminary for Q4: Prior 2.5 pct 0830 GDP deflator preliminary for Q4: Expected 2.1 pct; Prior 2.1 pct 0830 Core PCE prices preliminary for Q4: Expected 1.3 pct; Prior 1.3 pct 0830 PCE prices preliminary for Q4: Expected 2.2 pct; Prior 2.2 pct 0830 Advanced goods trade balance for Jan: Prior -64.40 bln 0830 Advanced Wholesale Inventory for Jan: Prior 1.0 0830 Advanced Retail Inventory Ex Auto for Jan: Prior 0.4 0900 CaseShiller 20 mm SA for Dec: Expected 0.7 pct; Prior 0.9 pct 0900 CaseShiller 20 mm NSA for Dec: Prior 0.2 pct 0900 CaseShiller 20 yy for Dec: Expected 5.3 pct; Prior 5.3 pct 0945 Chicago PMI for Feb: Expected 53.0; Prior 50.3 1000 Consumer Confidence for Feb: Expected 111.0; Prior 111.8 1000 Rich Fed Composite Index for Feb: Prior 12 1000 Rich Fed, Services Index for Feb: Prior 15 1000 Rich Fed Manufacturing Shipments for Feb: Prior 13 1030 Texas Service Sector Outlook for Feb: Prior 21.2 1030 Dallas Fed Services Revenue for Feb: Prior 16.2 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$1.32) (Reporting by Nayyar Rasheed in Bengaluru; Editing by Maju Samuel)
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