(Corrects commodities data for gold, crude and copper) May 2 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Wednesday as bullion prices rose and the U.S. dollar edged lower ahead of the U.S. Federal Reserve's rate decision. The Fed is likely to announce at 2:00 p.m. E.T. that it is holding interest rates steady. June futures on the S&P TSX index were up 0.39 percent at 7:15 a.m. ET. Canada's main stock index edged higher on Tuesday as gains for the materials group offset declines for railroad shares and for Shopify Inc after it reported quarterly results. Dow Jones Industrial Average e-mini futures were up 0.19 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.2 percent and Nasdaq 100 e-mini futures were up 0.46 percent. (Morning News Call newsletter here ; The Day Ahead newsletter here) TOP STORIES U.S. Trade Representative Robert Lighthizer said on Tuesday that if a deal to revise the North American Free Trade Agreement cannot be reached with Canada and Mexico in about three weeks, its approval by the U.S. Congress could be in jeopardy. U.S. officials are pushing for quotas and "other restrictions" on steel and aluminum imports, a top trade official said on Tuesday after the White House announced a month-long extension of tariff exemptions for Canada, Mexico and the European Union. Suncor Energy Inc , Canada's second-largest energy producer, posted a first-quarter profit that beat analyst expectations, as improved crude oil pricing and higher refining margins outweighed lower production. Canada's Loblaw Cos Ltd beat profit estimates, helped by a rise in same-store sales in its food and drug retail businesses. ANALYST RESEARCH HIGHLIGHTS Fortis Inc : CIBC cuts target price to C$48 from C$50 Rogers Sugar Inc : Desjardins cuts rating to "hold" from "buy" Sierra Metals Inc : Jefferies initiates coverage with "hold" rating; price target C$3.50 COMMODITIES AT 7:15 a.m. ET Gold futures : $1310.5; +0.28 percent US crude : $67.45; +0.3 percent Brent crude : $73.04; -0.12 percent LME 3-month copper : $6822.5; +1.15 percent U.S. ECONOMIC DATA DUE ON WEDNESDAY 0815 ADP national employment for Apr: Expected 200,000; Prior 241,000 0945 ISM-New York Index for Apr: Prior 772.1 0945 ISM NY Biz Conditions for Apr: Prior 54 1400 Fed funds target rate: Expected 1.50 to 1.75 pct; Prior 1.50 to 1.75 pct 1400 Fed Interest on excess reserves: Prior 1.75 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$1.28) (Reporting by Nayyar Rasheed in Bengaluru; Editing by Maju Samuel)
Our Standards: The Thomson Reuters Trust Principles.