Sept 25 - Stock futures indicated a modestly lower start for Canada’s main stock index on Thursday, with December futures on the S&P TSX index <0#SXF:> down 0.08 percent at 0730 ET.
No major economic events are scheduled for Thursday .
The Toronto Stock Exchange’s S&P/TSX composite index was little changed on Wednesday as a fall in the financial sector offset the benefit of a jump in shares of Valeant Pharmaceuticals International Inc after the drugmaker gave a bullish quarterly outlook.
Dow Jones Industrial Average e-mini futures were down 0.01 percent at 0730 ET, S&P 500 e-mini futures were down 0.05 percent and Nasdaq 100 e-mini futures were down 0.07 percent.
Canadian monetary policy can diverge from that of its neighbor to the south, even as the U.S. Federal Reserve’s exit from its extraordinary stimulus measures will likely raise market interest rates in Canada and weigh on the loonie, Bank of Canada’s Deputy Governor Timothy Lane said.
Canadian Prime Minister Stephen Harper said on Wednesday he did not anticipate a housing crisis in Canada, where some analysts are fretting about high debt levels and a booming housing market.
COMMODITIES AT 0730 ET
Gold futures : $1,209.10; -0.78 pct
US crude : $92.84; +0.04 pct
Brent crude : $97.01; +0.06 pct
LME 3-month copper : $6,722; -0.3 pct
ANALYST RESEARCH HIGHLIGHTS
Fortuna Silver Mines Inc : Raymond James raises rating to “strong buy” from “outperform”
Northland Power Inc : National Bank Financial raises rating to “outperform” from “sector perform”
Talisman Energy Inc : SocGen raises rating to “buy” from “hold”
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Durable Goods for Aug: Expected -18.0 pct; Prior 22.6 pct
0830 Durables Ex-Transport for Aug: Expected 0.7 pct; Prior -0.7 pct
0830 Durables Ex-Defense mm for Aug: Prior 24.9 pct
0830 Nondefense Ex-Air for Aug: Expected 0.5 pct; Prior -0.7 pct
0830 Initial Jobless Claims: Expected 300,000; Prior 280,000
0830 Jobless Claims 4-Wk Avg: Prior 299,500
0830 Continued Jobless Claims: Expected 2.450 mln; Prior 2.429 mln
0945 Markit Comp Flash PMI for Sep: Prior 59.7
0945 Markit Svcs PMI Flash for Sep: Expected 59.0; Prior 59.5
1100 KC Fed Manufacturing for Sep: Prior 4
1100 KC Fed Composite Index for Sep: Prior 3
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