June 13 (Reuters) - Stock futures for Canada’s main stock index were slightly higher on Wednesday ahead of the U.S. Federal Reserve’s monetary policy decision later in the day.
The U.S. central bank is widely expected to raise interest rates and investors will look for clues on the pace of future rate hikes as borrowing costs return to more normal levels amid an ongoing U.S. economic expansion.
June futures on the S&P/TSX index were up 0.07 percent at 7:15 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index closed up 25.69 points, or 0.16 percent, at 16,288.98 on Tuesday.
Dow Jones Industrial Average e-mini futures were up 0.13 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.19 percent and Nasdaq 100 e-mini futures were up 0.27 percent.
Canadians outraged by U.S. President Donald Trump’s attack on their prime minister have called for a consumer boycott targeting the United States, but indignation may be hard to sustain in a nation enamored by U.S. popular culture and larded with American goods.
Canada’s sheltered dairy sector has drawn the ire of President Trump for its high tariffs, but U.S. farmers say it is just as galling that exports have spiked from a country largely closed to importing dairy from other nations.
ANALYST RESEARCH HIGHLIGHTS
Rubicon Minerals Corp: TD Securities cuts price target to C$2.75 from C$3.50
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1298.4; fell 0.08 percent
US crude: $66.01; fell 0.53 percent
Brent crude: $75.73; fell 0.2 percent
3-month copper: $7214; fell 0.11 percent
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 PPI final demand yy for May: Expected 2.8 pct; Prior 2.6 pct
0830 PPI final demand mm for May: Expected 0.3 pct; Prior 0.1 pct
0830 PPI ex food/energy yy for may: Expected 2.3 pct; Prior 2.3 pct
0830 PPI ex food/energy mm for May: Expected 0.2 pct; Prior 0.2 pct
0830 PPI ex food/energy/transport yy for May: Prior 2.5 pct
0830 PPI ex food/energy/transport mm for May: Prior 0.1 pct
1100 TR IPSOS PCSI for Jun: Prior 63.76
1300 EIA Ethanol Ref Stock: Prior 21,897,000
1300 EIA Ethanol Fuel Total: Prior 1,041,000
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$1.30) (Reporting by Debanjan Bose in Bengaluru; Editing by Anil D’Silva) )
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