Dec 22 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Tuesday even as crude oil prices edged up from multi-year lows.
Oil prices rose slightly to retreat from 11-year lows as investors closed bearish positions ahead of the year-end holiday but global oversupply capped gains.
March futures on the S&P TSX index were down 0.26 percent at 7:30 a.m. ET.
No major economic events are scheduled for the day.
The Toronto Stock Exchange’s S&P/TSX composite index ended little changed on Monday as energy stocks gave up early gains, but investors scooped up shares in safe-haven sectors such as consumer staples and healthcare, while gold producers climbed.
Dow Jones Industrial Average e-mini futures were down 0.04 percent at 7:30 a.m. ET, while S&P 500 e-mini futures were down 0.04 percent and Nasdaq 100 e-mini futures were down 0.15 percent.
Australia’s antitrust regulator said it would consider a watered down version of Canadian infrastructure giant Brookfield Asset Management Inc’s $6.5 billion bid for freight firm Asciano Ltd, reviving the prospect of a deal.
Canada’s federal and provincial financial ministers are considering not raising premiums for the Canada Pension Plan (CPP), federal Liberal Finance Minister Bill Morneau said on Monday, despite a Liberal campaign promise to enhance the plan.
COMMODITIES AT 7:30 a.m. ET
Gold futures : $1,076.90; -0.34 pct
US crude : $35.87; +0.20 pct
Brent crude : $36.33; +0.06 pct
LME 3-month copper : $4,692.50; -0.96 pct
ANALYST RESEARCH HIGHLIGHTS
Canadian Pacific Railway : Barclays cuts price target to C$190 from C$210
CIBC : RBC cuts price target to C$107 from C$109
Oban Mining Corp : Dundee Capital starts coverage with “buy” rating
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 Corporate profits revise for Q3: Expected 1.3 pct; Prior -1.6 pct
0830 GDP final for Q3: Expected 1.9 pct; Prior 2.1 pct
0830 GDP sales final for Q3: Expected 2.7 pct; Prior 2.7 pct
0830 GDP cons spending final for Q3: Prior 3.0 pct
0830 GDP deflator final for Q3: Expected 1.3 pct; Prior 1.3 pct
0830 Core PCE prices final for Q3: Expected 1.3 pct; Prior 1.3 pct
0830 PCE prices final for Q3: Expected 1.3 pct; Prior 1.3 pct
0855 Redbook mm: Prior -0.8 pct
0855 Redbook yy: Prior 1.5 pct
0900 Monthly home price mm for Oct: Prior 0.8 pct
0900 Monthly home price yy for Oct: Prior 6.1 pct
0900 Monthly Home Price Index for Oct: Prior 226.5
1000 Existing home sales for Nov: Expected 5.35 mln; Prior 5.36 mln
1000 Existing home sales percentage change for Nov: Expected 0.0 pct; Prior -3.4 pct
1000 Rich Fed Composite Index for Dec: Prior -3
1000 Rich Fed, Services Index for Dec: Prior -1
1000 Rich Fed Manufacturing Shipments for Dec: Prior -2
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$1.39) (Reporting by Nikhil Kumar in Bengaluru; Editing by Anil D’Silva)
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