Aug 23 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Tuesday, tracking world markets, as investors await further clues on whether the U.S. Federal Reserve will raise interest rates this year.
Fed Chair Janet Yellen is expected to provide more clarity on the timing of a rate hike during the annual meeting of global central bankers in Jackson Hole, Wyoming. The meet starts on Thursday and Yellen is due to speak on Friday.
September futures on the S&P TSX index were up 0.14 percent at 7:15 a.m. ET.
Canada’s main stock index rose on Monday as Alimentation Couche-Tard Inc jumped after the convenience store operator bought a U.S. chain in an expansion move and drugmaker Valeant Pharmaceuticals rose after it hired a new chief financial officer.
Dow Jones Industrial Average e-mini futures were up 0.24 percent at 7:15 a.m. ET. S&P 500 e-mini futures were up 0.24 percent and Nasdaq 100 e-mini futures were up 0.26 percent.
Three Canadian pension funds agreed to sell their stakes in Canada’s biggest stock exchange operator TMX Group Ltd for a combined value of about C$312 million.
ANALYST RESEARCH HIGHLIGHTS
Absolute Software Corp : BMO cuts to “market perform”
Alimentation Couche-Tard : Canaccord Genuity raises target to C$78 from C$73; “buy”
Performance Sports Group Ltd : RBC cuts to “underperform” from “sector perform”
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1336.3; -0.1 percent
U.S. crude : $47.01; -0.84 percent
Brent crude : $48.69; -0.96 percent
LME 3-month copper : $4731.5; -0.36 percent
U.S. ECONOMIC DATA DUE ON TUESDAY
0855 Redbook mm: Prior -0.3 pct
0855 Redbook yy: Prior 0.2 pct
0945 Markit Manufacturing PMI Flash for August: Expected 52.7; Prior 52.9
1000 New home sales-units for July: Expected 0.580 mln; Prior 0.592 mln
1000 New home sales change mm for July: Expected -2.0 pct; Prior 3.5 pct
1000 Rich Fed Composite Index for August: Prior 10
1000 Rich Fed, Services Index for August: Prior 8
1000 Rich Fed Manufacturing Shipments for August: Prior 7
1315 Fed O/N Repo: Prior 0.25 pct
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$1.29) (Reporting by Sai Sharanya Khosla in Bengaluru; Editing by Savio D’Souza)
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