CANADA STOCKS-TSX set to open higher after strong US growth data

Wed Jul 30, 2014 9:00am EDT
 
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(Adds U.S. and Canadian economic data)

July 30 (Reuters) - Canadian stocks looked set to open higher on Wednesday after data showed U.S. economic growth in the second quarter was stronger than expected.

September futures on the S&P TSX index <0#SXF:> were up 0.39 percent at 0845 ET.

U.S. economic growth accelerated more than expected in the second quarter and the decline in output in the prior period was less steep than previously reported.

Hiring by U.S. companies, however, came in below expectations, according to a report by a payrolls processor.

Industrial product prices in Canada slipped by 0.1 percent in June from May as prices for motorized and recreational vehicles were lower due to a stronger Canadian dollar, Statistics Canada said.

The TSX index ended little changed on Tuesday as concerns about geopolitical tensions offset gains in Talisman Energy Inc and WestJet Airlines Ltd after the companies reported results.

Dow Jones Industrial Average e-mini futures were up 0.43 percent at 0845 ET, while S&P 500 e-mini futures were up 0.48 percent. Nasdaq 100 e-mini futures were up 0.63 percent.

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