May 2, 2018 / 11:32 AM / 3 months ago

CORRECTED-CANADA STOCKS-TSX futures up on rising gold prices

 (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)
  
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