March 18 (Reuters) - Stock futures pointed to a lower start for Canada’s main stock index on Wednesday as investors awaited the outcome of the U.S. Federal Reserve’s two-day meeting, which ends later in the day.
The dollar held steady before the second day of the meeting that is expected to lay the groundwork for the first increase in U.S. interest rates in nearly a decade.
March futures on the S&P TSX index were down 0.26 percent at 7:15 a.m. ET.
Wholesale trade data for January is due at 8:30 a.m. ET
Canada’s main stock index rose slightly on Tuesday, lifted by a small bounce-back in oil producers as investors anxiously awaited Fed’s statement on its policy outlook.
Dow Jones Industrial Average e-mini futures were down 0.31 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.28 percent and Nasdaq 100 e-mini futures were down 0.22 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,749.60; -0.1 pct
US crude : $87.71; -0.7 pct
Brent crude : $110.92; -0.4 pct
LME 3-month copper : $7,782; +0.1 pct
ANALYST RESEARCH HIGHLIGHTS
Agjunction Inc : Paradigm Capital raises to “buy” from “hold”
Savanna Energy Services Corp : Raymond James cuts target to C$2 from C$2.50; market perform
Alimentation Couche-Tard Inc : Barclays raises target to C$51 from C$44
U.S. ECONOMIC DATA DUE ON WEDNESDAY
1400 Fed funds target rate: Prior 0.25 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$1.28) (Reporting by Nandi Kaul in Bengaluru)
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