Aug 29 (Reuters) - Futures for Canada’s main stock index edged up on Thursday, supported by higher U.S. crude prices amid positive comments from China on its trade war with the United States.
The two sides are discussing the next round of face-to-face talks scheduled in September, but hopes for progress hinge on whether Washington can create favourable conditions, China’s commerce ministry said.
September futures on the S&P/TSX index were up 0.71% at 7:00 a.m. ET.
Canada’s current account data for the second quarter is due at 8:30 a.m. ET
The Toronto Stock Exchange S&P/TSX composite index rose 0.54% to 16,271.65 on Wednesday.
Dow Jones Industrial Average e-mini futures were up 1.02% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.96% and Nasdaq 100 e-mini futures were up 1.28%.
Canada’s second-biggest lender TD Bank Group fell short of analysts’ estimates for quarterly profit, hurt by higher provisions for loan losses and sluggish growth in its domestic retail unit.
ANALYST RESEARCH HIGHLIGHTS
Hudson’s Bay Co: Scotiabank raises target price to C$11.00 from C$9.45
Husky Energy Inc: Credit Suisse cuts price target to C$16 from C$18
Imperial Oil Ltd: Credit Suisse cuts price target to C$38 from C$39
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1538.6; -0.27%
US crude: $56.1; +0.57%
Brent crude: $60.4; -0.15%
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Corporate profits preliminary for Q2: Prior -4.1%
0830 GDP 2nd estimate for Q2: Expected 2.0%; Prior 2.1%
0830 GDP sales preliminary for Q2: Expected 2.9%; Prior 3.0%
0830 GDP cons spending preliminary for Q2: Prior 4.3%
0830 GDP deflator preliminary for Q2: Expected 2.4%; Prior 2.5%
0830 Core PCE prices preliminary for Q2: Expected 1.8%; Prior 1.8%
0830 PCE prices preliminary for Q2: Expected 2.3%; Prior 2.3%
0830 Advance goods trade balance for Jul: Prior -$74.16 bln
0830 Wholesale inventories advance for Jul: Prior 0.0%
0830 Retail inventories ex-auto advance for Jul: Prior -0.1%
0830 Initial jobless claims : Expected 215,000; Prior 209,000
0830 Jobless claims 4-week average : Prior 214,500
0830 Continued jobless claims : Expected 1.680 mln; Prior 1.674 mln
1000 Pending Homes Index for Jul: Prior 108.3
1000 Pending sales change mm for Jul: Expected 0.0%; Prior 2.8%
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Canadian markets directory ($1= C$1.32) (Reporting by Pathikrit Bandyopadhyay in Bengaluru; Editing by Arun Koyyur)
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