March 15 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Tuesday, mirroring declines in global markets after the Bank of Japan painted a bleaker picture of the Japanese economy and oil prices dropped again.
The Bank of Japan said it would maintain its massive asset buying programme at existing levels and suggested it may roll out more stimulus as it struggles to reach an elusive inflation target.
March futures on the S&P TSX index were down 0.82 percent at 7:15 a.m. ET.
Canada’s main stock index fell on Monday as lower commodity prices weighed on miners and energy companies and investors took a cautious approach ahead of a U.S. Federal Reserve policy decision.
Dow Jones Industrial Average e-mini futures were down 0.40 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.51 percent and Nasdaq 100 e-mini futures were down O.38 percent.
Valeant Pharmaceuticals International Inc cut its revenue forecast for the year by about 12 percent, or $1.5 billion, citing slower growth in its U.S. dermatology, gastrointestinal and women’s health businesses.
Amaya Inc, the owner of online gambling sites PokerStars and Full Tilt, reported a better-than-expected quarterly profit as it added more customers.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,234.40; -0.80 pct
US crude : $36.27; -2.47 pct
Brent crude : $38.56; -2.45 pct
LME 3-month copper : $4,912.00; -0.69 pct
Boardwalk REIT : Canaccord Genuity raises target price to C$54 from C$47.50
Canadian National Railway Co : NBF cuts ratings to “sector perform” from “outperform”
Detour Gold Corp : CIBC raises target price to C$24 from C$22
0830 NY Fed Manufacturing index for Mar: Expected -10.00; Prior -16.64
0830 Producer Prices final demand yy for Feb: Expected 0.1 pct; Prior -0.2 pct
0830 Producer Prices final demand mm for Feb: Expected -0.2 pct; Prior 0.1 pct
0830 Producer Prices ex Food/energy yy for Feb: Expected 1.1 pct; Prior 0.6 pct
0830 Producer Prices ex Food/energy mm for Feb: Expected 0.1 pct; Prior 0.4 pct
0830 Producer Prices ex Food/energy/transport yy for Feb: Prior 0.8 pct
0830 Producer Prices ex Food/energy/transport mm for Feb: Prior 0.2 pct
0830 Retail sales mm for Feb: Expected -0.1 pct; Prior 0.2 pct
0830 Retail sales ex-autos mm for Feb: Expected -0.2 pct; Prior 0.1 pct
0830 Retail ex gas/autos for Feb: Prior 0.4 pct
0830 Retail control for Feb: Expected 0.2 pct; Prior 0.6 pct
0855 Redbook mm: Prior 2.9 pct
0855 Redbook yy: Prior 0.7 pct
1000 Business inventories mm for Jan: Expected 0.0 pct; Prior 0.1 pct
1000 NAHB Housing Market Index for Mar: Expected 59; Prior 58
1600 Net L-T flows,exswaps for Jan: Prior -29.4 bln
1600 Foreign buying, T-bonds for Jan: Prior -35.9 bln
1600 Overall net capital flow for Jan: Prior -114.0 bln
1600 Net L-T flows, including swaps for Jan: Prior -43.4 bln
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($1= C$1.34) (Reporting by Riniki Sanyal in Bengaluru; Editing by Sriraj Kalluvila)