April 26 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Tuesday as copper prices fell on worries that expectations of stronger demand from China were overly optimistic.
June futures on the S&P TSX index were down 0.06 percent at 7:15 a.m. ET.
No major economic events are scheduled for the day. ET
Canada’s main stock index fell on Monday as lower oil prices weighed on energy stocks, while most other sectors also lost ground as risk appetite declined.
Dow Jones Industrial Average e-mini futures were up 0.11 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.11 percent and Nasdaq 100 e-mini futures were up 0.02 percent.
Canadian miner Teck Resources Ltd reported a surprise quarterly profit as cost-cutting measures and a weak Canadian dollar helped cushion the impact of lower coal and copper prices.
Canadian National Railway Co lowered its full-year earnings forecast, citing weaker-than-expected freight demand in some markets and a strengthening Canadian dollar.
Canadian planemaker Bombardier Inc faces a pivotal week that may see a key deal announced with Delta Air Lines Inc but a federal aid package is unlikely to be approved in time for its annual meeting on Friday.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,234.6; -0.35 pct
US crude : $43.03; +0.89 pct
Brent crude : $44.92; +0.99 pct
LME 3-month copper : $4,928; -1.4 pct
ANALYST RESEARCH HIGHLIGHTS
Lundin Mining Corp : Danske Bank cuts to hold from buy
Pembina Pipeline Corp : Desjardins starts with top pick rating
Canadian National : CIBC cuts to sector performer
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 Durable goods for Mar: Expected 1.8 pct; Prior -3.0 pct
0830 Durables ex-transport for Mar: Expected 0.5 pct; Prior -1.3 pct
0830 Durables ex-defense mm for Mar: Expected 0.4 pct; Prior -2.1 pct
0830 Nondefense cap ex-air for Mar: Expected 0.8 pct; Prior -2.5 pct
0855 Redbook mm: Prior -3.1 pct
0855 Redbook yy: Prior 0.5 pct
0900 CaseShiller 20 mm SA for Feb: Expected 0.8 pct; Prior 0.8 pct
0900 CaseShiller 20 mm NSA for Feb: Expected 0.1 pct; Prior 0.0 pct
0900 CaseShiller 20 yy for Feb: Expected 5.5 pct; Prior 5.7 pct
0945 Markit Composite Flash PMI for Apr: Prior 51.30
0945 Markit Services PMI Flash for Apr: Prior 51.3
1000 Consumer Confidence for Apr: Expected 96.0; Prior 96.2
1000 Rich Fed Composite Index for Apr: Prior 22
1000 Rich Fed Services Index for Apr: Prior 9
1000 Rich Fed Manufacturing Shipments for Apr: Prior 27
1030 Texas Service Sector Outlook for Apr: Prior -3.8
1030 Dallas Fed Services Revenue for Apr: Prior 6.4
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$1.27) (Reporting by Anjali James in Bengaluru; Editing by Anil D’Silva)
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