May 25 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Wednesday as oil prices rose towards $50 per barrel on expectations of shrinking supply due to well fires in Canada and other outages.
June futures on the S&P TSX index were up 0.47 percent at 7:15 a.m. ET.
Bank of Canada rate decision is due at 10:00 a.m. ET .
Canada’s main stock index closed higher on Tuesday as strength in the financial sector ahead of the bank earnings season helped overcome a slump in shares of gold miners.
Dow Jones Industrial Average e-mini futures were up 0.34 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.35 percent and Nasdaq 100 e-mini futures were up 0.40 percent.
The Securities and Exchange Commission is concerned about the way Canadian drugmaker Valeant Pharmaceuticals International Inc has been disclosing its “non-GAAP” financial measures, regulatory filings showed on Tuesday.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,221.60; -0.62 pct
US crude : $49.13; +1.07 pct
Brent crude : $49.18; +1.17 pct
LME 3-month copper : $4,617.00; +0.35 pct
ANALYST RESEARCH HIGHLIGHTS
Saputo : National Bank Financial raises target price to C$42 from C$38
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Advance goods trade balance for Apr: Prior -$56.90 bln
0900 Monthly home price mm for Mar: Prior 0.4 pct
0900 Monthly home price yy for Mar: Prior 5.6 pct
0900 Monthly Home Price Index for Mar: Prior 231.4
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Reuters global stocks poll for Canada
Canadian markets directory
$1= C$1.31 Reporting by Nivedita Balu in Bengaluru; Editing by Anil D’Silva
Our Standards: The Thomson Reuters Trust Principles.