March 22 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Wednesday on growing doubts whether U.S. President Donald Trump will be able to deliver on promised tax cuts.
Investors see the Trump administration’s struggles to push through the healthcare overhaul as a sign he may also face setbacks delivering promised corporate tax cuts.
Adding to pressure, oil prices slipped after data showed U.S. crude inventories rising faster than expected.
June futures on the S&P TSX index were down 0.15 percent at 7:10 a.m. ET.
No economic indicators are scheduled for release.
Canada’s benchmark stock index fell on Tuesday, with heavyweight financial stocks following Wall Street banks lower as investors fretted about U.S. President Donald Trump’s ability to boost growth and energy stocks weighing with lower oil prices.
Dow Jones Industrial Average e-mini futures were down 0.19 percent at 7:10 a.m. ET, while S&P 500 e-mini futures were down 0.07 percent and Nasdaq 100 e-mini futures were down 0.06 percent.
Amaya Inc, the owner of online gambling sites PokerStars and Full Tilt, reported a fourth-quarter profit, compared with a year-ago loss, as it added more customers and cut costs.
A Canadian court has placed Lexin Resources Ltd, a privately held oil company, in receivership to sell off its assets after an unprecedented application by the Alberta Energy Regulator (AER), the agency said.
Canadian oilfield services provider Trican Well Service Ltd said it would buy smaller rival Canyon Services Group Inc in a deal valued at about C$637 million, including debt.
ANALYST RESEARCH HIGHLIGHTS
BCE Inc: Barclays reinstates coverage with “overweight” rating
First Quantum Minerals Ltd: Berenberg raises rating to “hold” from “sell”
Dream Global <REIT DRG_u.TO>: NBF resumes coverage with “outperform” rating
Teck Resources Ltd: Berenberg raises rating to “buy” from “hold”
COMMODITIES AT 7:10 a.m. ET
Gold futures: $1,245.1; -0.11 pct
US crude: $47.57; -1.39 pct
Brent crude: $50.22; -1.45 pct
LME 3-month copper: $5,734.50; -0.72 pct
U.S. ECONOMIC DATA DUE ON WEDNESDAY
09:00 Monthly home price mm for Jan: Prior 0.4 pct
09:00 Monthly home price yy for Jan: Prior 6.2 pct
09:00 Monthly Home Price Index for Jan: Prior 242.6
10:00 Existing home sales for Feb: Expected 5.57 mln; Prior 5.69 mln
10:00 Existing home sales percentage change for Feb: Expected -2.0 pct; Prior 3.3 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$1.34)
Reporting by Astha Rawat in Bengaluru; Editing by Anil D’Silva
Our Standards: The Thomson Reuters Trust Principles.