March 23 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Thursday ahead of a key vote in the U.S. Congress on a healthcare bill that is seen as a litmus test of President Donald Trump’s ability to legislate.
Trump and U.S. House of Representatives leaders are pushing for votes for their plan to overhaul Obamacare, and said they were making progress in their efforts to win over conservative Republicans who have demanded changes to the legislation.
June futures on the S&P TSX index were up 0.19 percent at 7:10 a.m. ET.
No economic indicators are scheduled for release.
Canada’s main stock index ended slightly higher on Wednesday, with gains in energy, industrials and materials groups offsetting losses from financials as the market recovered from a large sell-off the day before.
Dow Jones Industrial Average e-mini futures were up 0.09 percent at 7:10 a.m. ET, while S&P 500 e-mini futures were up 0.22 percent and Nasdaq 100 e-mini futures were up 0.14 percent.
Canada’s Liberal government unveiled a stay-the-course budget on Wednesday that targeted export growth and some measure of tax reform but did little to whittle away at deficits even as it backed off from an explicit pledge to improve the debt outlook.
The oil-rich Canadian province of Alberta has obtained federal aid to help clean up the rising number of oil wells whose owners have gone bankrupt, the province’s premier said after the release of the federal budget on Wednesday.
The new national budget unveiled Wednesday by Canadian Prime Minister Justin Trudeau’s Liberal government took aim at ride-sharing providers such as Uber Technologies Inc, looking to end a tax advantage they have over traditional taxi companies.
ANALYST RESEARCH HIGHLIGHTS
Amaya Inc: Desjardins raises target price to C$24.50
RMP Energy Inc: Raymond James cuts target price to C$0.75 from C$1
Yellow Pages Ltd: RBC cuts target price to C$9 from C$16
COMMODITIES AT 7:10 a.m. ET
Gold futures: $1,247.7; -0.16 pct
US crude: $48.35; +0.65 pct
Brent crude: $50.96; +0.63 pct
LME 3-month copper: $5,823.00; +0.26 pct
U.S. ECONOMIC DATA DUE ON THURSDAY
08:30 Initial jobless claims: Expected 240,000; Prior 241,000
08:30 Jobless claims 4-week average: Prior 237,250
08:30 Continued jobless claims: Expected 2.035 mln; Prior 2.030 mln
10:00 New home sales-units for Feb: Expected 0.565 mln; Prior 0.555 mln
10:00 New home sales change mm for Feb: Expected 0.7 pct; Prior 3.7 pct
11:00 KC Fed Manufacturing for Mar: Expected 11; Prior 11
11:00 KC Fed Composite Index for Mar: Prior 14
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
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Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($1= C$1.33)
Reporting by Astha Rawat in Bengaluru; Editing by Anil D’Silva
Our Standards: The Thomson Reuters Trust Principles.