August 26, 2016 / 11:32 AM / a year ago

CANADA STOCKS-Futures flat as investors await Yellen's speech

August 26 (Reuters) - Stock futures pointed to a flat opening for Canada's main stock index on Friday as investors awaited a speech by U.S. Federal Reserve Chair Janet Yellen for a clearer picture on U.S. rate hikes.

Investors were wary of Yellen hinting at a near-term interest rate hike, which could divert some of the liquidity that has underpinned riskier assets worldwide, though others predicted she would strike a more equivocal note.

September futures on the S&P TSX index were down 0.05 percent at 7:15 a.m. ET.

Canada's main share index edged higher on Thursday as the materials group pared some recent losses before the start of a global central bankers' gathering and Canadian Imperial Bank of Commerce rose after better-than-expected earnings.

Dow Jones Industrial Average e-mini futures were down 0.02 percent at 7:15 a.m. ET. S&P 500 e-mini futures were unchanged and Nasdaq 100 e-mini futures were down 0.05 percent.

(Morning News Call newsletter link.reuters.com/nex49s ; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Canadian miner Kinross Gold Corp said it has suspended operations at its Maricunga gold mine in Chile, and will lay off 300 employees after a judicial decision upheld a regulator's move to shut down the water system linked to the mine.

ANALYST RESEARCH HIGHLIGHTS

CIBC : National Bank Financial raises target to C$98 from C$95; rating "underperform"

Polaris Infrastructure : Canaccord Genuity raises target to C$18.50 from C$12

Toronto-Dominion Bank : National Bank Financial raises target to C$61 from C$60

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1323.1; +0.23 percent

US crude : $47.13; -0.42 percent

Brent crude : $49.35; -0.64 percent

LME 3-month copper : $4642; +0.35 percent

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Advance Wholesale Inventory for July: Prior 0.3

0830 Advance Retail Inventory Ex Auto for July: Prior 0.2

0830 Advance goods trade balance for July: Prior -64.54 bln

0830 Corporate profits preliminary for Q2: Prior 8.1 pct

0830 GDP 2nd estimate for Q2: Expected 1.1 pct; Prior 1.2 pct

0830 GDP sales preliminary for Q2: Expected 2.4 pct; Prior 2.4 pct

0830 GDP cons spending preliminary for Q2: Prior 4.2 pct

0830 GDP deflator preliminary for Q2: Expected 2.2 pct; Prior 2.2 pct

0830 Core PCE prices preliminary for Q2: Expected 1.7 pct; Prior 1.7 pct

0830 PCE prices preliminary for Q2: Expected 1.9 pct; Prior 1.9 pct

1000 U Mich Sentiment Final for August: Expected 90.6; Prior 90.4

1000 U Mich Conditions Final for August: Expected 107.4; Prior 106.1

1000 U Mich Expectations Final for August: Expected 81.0; Prior 80.3

1000 U Mich 1year inflation final for August: Prior 2.5 pct

1000 U Mich 5-year inflation final for August: Prior 2.6 pct

1030 ECRI Weekly Index: Prior 137.8

1030 ECRI weekly annualized: Prior 8.4 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$1.29) (Reporting by Sai Sharanya Khosla in Bengaluru; Editing by Saumyadeb Chakrabarty)

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