CANADA STOCKS-Futures flat after hawkish comments from Fed

Mon Aug 29, 2016 7:30am EDT
 
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August 29 (Reuters) - Stock futures pointed to a flat opening for Canada's main stock index on Monday as investors assessed hawkish comments from senior U.S. Federal Reserve officials that indicated a U.S. interest rate hike was on the cards in the near term.

Fed Chair Janet Yellen told a global monetary policy conference on Friday that the case for a rate increase had grown stronger, while Fed Vice Chair Stanley Fischer suggested a move could come at the central bank's September policy meeting if the economy was doing well.

Although U.S. government data earlier on Friday showed sluggish economic growth in the second quarter, Yellen said a lot of new jobs were being created and economic growth would likely continue at a moderate pace.

September futures on the S&P TSX index were down 0.06 percent at 7:15 a.m. ET.

Canada's main stock index edged higher in a seesaw session on Friday in the wake of Fed officials' comments, led by financial and industrial stocks.

Dow Jones Industrial Average e-mini futures were up 0.01 percent at 7:15 a.m. ET. S&P 500 e-mini futures were up 0.02 percent and Nasdaq 100 e-mini futures were up 0.01 percent.

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

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