May 18 (Reuters) - Canada’s main stock index was set to follow global markets lower on Wednesday, a day after strong U.S. inflation data renewed expectations of an interest rate hike by the U.S. Federal Reserve within months.
June futures on the S&P TSX index were down 0.15 percent at 7:25 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index touched a nearly seven-month high on Tuesday as higher commodity prices supported energy and mining stocks, but some gains for the index were pared as financial and consumer stocks fell.
The Federal Open Market Committee issues minutes from its meeting of April 26-27 at 2:00 p.m. ET.
Data on foreign assets bought by Canadians and foreign investment in Canadian securities is due at 8:30 a.m. ET .
Dow Jones Industrial Average e-mini futures were down 0.01 percent at 7:25 a.m. ET, while S&P 500 e-mini futures were up 0.01 percent and Nasdaq 100 e-mini futures were up 0.02 percent.
Firefighters were preparing to tackle hot weather and gusting winds as they battled a massive wildfire raging near Fort McMurray, Alberta, that threatens oil sands facilities and work camps north of the city.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,274.90; -0.10 pct
US crude : $48.40; +0.19 pct
Brent crude : $49.25; -0.08 pct
LME 3-month copper : $4,588.00; -1.48 pct
ANALYST RESEARCH HIGHLIGHTS
Alacer Gold Corp : CIBC raises target price to C$3.25 from C$2.75
Bank of Montreal : CIBC raises target price to C$84 from C$79
Bank of Nova Scotia : CIBC raises price target to C$65 from C$61
U.S. ECONOMIC DATA DUE ON WEDNESDAY
No major economic releases are scheduled for the day.
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$1.30) (Reporting by Nikhil Kumar in Bengaluru; Editing by Maju Samuel)
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