CANADA STOCKS-Futures down as commodities edge lower

Tue Feb 28, 2017 7:52am EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

    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)