CANADA STOCKS-TSX may open flat; firm commodities offset Goldman

Wed Jan 19, 2011 8:49am EST
 
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Jan 19 (Reuters) - Canadian stocks looked set to open little changed on Wednesday as broad gains in commodity prices were offset by unexpectedly weak Canadian and U.S. economic data and Goldman Sachs results that hurt investor sentiment.

FACTORS TO WATCH

* Canadian equity futures <0#SXF:> pointed to a flat open

* U.S. stock index futures added to losses after Goldman Sachs results dropped 53 percent from a year earlier. [.N]

* European stocks fell after stellar results from tech bellwethers Apple (AAPL.O: Quote), ASML (ASML.AS: Quote) and IBM (IBM.N: Quote) failed to fuel the market's brisk rally, with technical indicators signaling a pull-back. [.EU]

* Asian stocks rose to their highest since May 2008, led by IT, energy, material sectors

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.60 percent in early trade.

* Oil prices rose as a drop in the dollar to eight-week lows stimulated buying, and on further signs the global demand recovery is intact after the International Energy Agency (IEA) raised its growth forecast. [O/R]   Continued...