August 22, 2014 / 12:57 PM / 3 years ago

CANADA STOCKS-Futures inch higher ahead of Jackson Hole meet

3 Min Read

(Updates Canada economic data)

Aug 22 (Reuters) - Stock futures indicated a higher start for Canada's main stock index ahead of speeches by Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi at the annual gathering of central bankers in Jackson Hole, Wyoming.

The annual inflation rate softened more than expected in July and the core rate unexpectedly fell, Statistics Canada said, weighed by a drop in prices of gasoline, clothing and healthcare.

Consumers once again bolstered the economy in June, with retail sales rising for the sixth straight month, by a stronger-than-expected 1.1 percent to a new record, according to Statistics Canada data.

September futures on the S&P TSX index <0#SXF:> were up 0.09 percent at 0845 ET.

The Toronto Stock Exchange's S&P/TSX composite index was little changed on Thursday as investors awaited a speech from Yellen to scan for clues about the central bank's outlook for interest rates.

Dow Jones Industrial Average e-mini futures were down 0.12 percent at 0845 ET, while S&P 500 e-mini futures were down 0.16 percent and Nasdaq 100 e-mini futures were down 0.07 percent.

(Morning News Call newsletter; The Day Ahead newsletter

Top Stories

Royal Bank of Canada reported a bigger-than-expected increase in third-quarter earnings, driven by strong results from its wealth management and capital markets divisions.

A federal judge in California denied on Thursday a request by Allergan Inc to expedite its civil suit claiming that Valeant Pharmaceuticals International Inc and Pershing Square Capital Management engaged in insider trading ahead of their bid to buy Allergan.

Commodities at 0845 Et

Gold futures : $1,278.4; +0.35 pct

US crude : $93.56; -0.43 pct

Brent crude : $102.45; -0.18 pct

LME 3-month copper : $7,076.15; +0.87 pct

Analyst Research Highlights

Algonquin Power & Utilities Corp : CIBC raises target price to C$9 from C$8.25; rating sector performer

Duluth Metals Ltd : TD Securities cuts target price to C$0.35 from C$0.85; rating hold

u.s. Economic Data Due on Friday

10:30 ECRI Weekly Index: Prior +134.3

10:30 ECRI Weekly Annualized: Prior +3.6 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= $1.10 Canadian Reporting by Nikhil Kumar; Editing by Simon Jennings

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