June 27 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Tuesday as a weaker U.S. dollar boosted oil and gold prices.
Oil prices rose for a fourth consecutive session as investors started covering short positions, but worries over persistent oversupply capped gains.
Gold inched higher after its decline in the previous session prompted investors to take fresh positions.
September futures on the S&P TSX index were up 0.22 percent at 7:15 a.m. ET.
Canada’s main stock index edged lower on Monday in cautious trading ahead of the end of the second quarter, as declines in the heavyweight resource and financial groups offset gains for consumer-related shares.
No major economic releases are scheduled.
Dow Jones Industrial Average e-mini futures were down 0.12 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.14 percent and Nasdaq 100 e-mini futures were down 0.48 percent.
New York-based hedge fund Paulson & Co on Monday reported a 6.3 percent stake in embattled Canadian drugmaker Valeant Pharmaceuticals International Inc,.
ANALYST RESEARCH HIGHLIGHTS
MEG Energy Corp: National Bank of Canada starts coverage with “sector perform” rating; C$4.75 target price
Winpak Ltd: CIBC cuts rating to “neutral” from “outperformer”
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1251.6; +0.43 percent
US crude: $43.78; +0.92 percent
Brent crude: $46.35; +1.13 percent
LME 3-month copper: $5813; +0.32 percent
U.S. ECONOMIC DATA DUE ON TUESDAY
0900 CaseShiller 20 mm SA for Apr: Expected 0.4 pct; Prior 0.9 pct
0900 CaseShiller 20 mm NSA for Apr: Expected 0.9 pct; Prior 1.0 pct
0900 CaseShiller 20 yy for Apr: Expected 5.9 pct; Prior 5.9 pct
1000 Consumer Confidence for Jun: Expected 116.0; Prior 117.9
1000 Rich Fed Composite Index for Jun: Prior 1
1000 Rich Fed, Services Index for Jun: Prior 34
1000 Rich Fed Manufacturing Shipments for Jun: Prior -2
1030 Texas Service Sector Outlook for Jun: Prior 7.7
1030 Dallas Fed Services Revenue for Jun: Prior 15.9
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$1.32) (Reporting by Nikhil Kumar in Bengaluru; Editing by Sriraj Kalluvila)
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