July 11 (Reuters) - Canadian stock futures were little changed on Tuesday as investors seemed wary of making big bets ahead of Bank of Canada’s interest rate decision on Wednesday.
Forecasters are divided on whether the central bank will raise rates, but data from the overnight index swaps market shows that money markets are almost fully priced for an increase, while an 80 percent chance of a second hike has been implied by December.
September futures on the S&P TSX index were up 0.02 percent at 7:15 a.m. ET.
Housing starts data is due at 8:15 a.m. ET.
Canada’s main stock index rose on Monday, rebounding from a seven-month low at the end of last week, led by its materials and energy groups as commodity prices rose.
Dow Jones Industrial Average e-mini futures were down 0.05 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.08 percent and Nasdaq 100 e-mini futures were down 0.04 percent.
ANALYST RESEARCH HIGHLIGHTS
Bellatrix Exploration Ltd: Canaccord Genuity cuts rating to “hold” from “speculative buy”
CES Energy Solutions Corp: Canaccord Genuity cuts price target to C$7.5 from C$10
Tamarack Valley Energy Ltd: Canaccord Genuity cuts rating to “hold” from “buy”
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1,209; -0.26 pct
US crude: $43.99; -0.92 pct
Brent crude: $46.45; -0.94 pct
LME 3-month copper: $5,822; -0.04 pct
U.S. ECONOMIC DATA DUE ON TUESDAY
1000 JOLTS job openings for May: Expected 5.950 mln; Prior 6.044 mln
1000 Wholesale Inventory (y), R mm for May: Expected 0.3 pct; Prior 0.3 pct
1000 Wholesale sales mm for May: Expected 0.2 pct; Prior -0.4 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 Riniki Sanyal in Bengaluru; Editing by Shounak Dasgupta)
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