May 30, 2018 / 11:36 AM / 2 years ago

CANADA STOCKS-TSX set for higher open as oil prices rise

May 30 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Wednesday as Brent crude prices rose towards $76 a barrel, supported by tight supplies.

June futures on the S&P TSX index were up 0.33 percent at 7:15 a.m. ET.

Investors will watch out for the Bank of Canada’s interest rate decision scheduled at 10:00 a.m. ET. The central bank is expected to hold rates steady at 1.25 percent, but firmer price and wage inflation will prompt two increases in the second half of 2018, according to a Reuters poll.

The Toronto Stock Exchange’s S&P/TSX fell 93.53 points, or 0.58 percent, to 15,922.61 on Tuesday.

Dow Jones Industrial Average e-mini futures were up 0.61 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were rose 0.52 percent and Nasdaq 100 e-mini futures were 0.36 percent higher.

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Bank of Montreal on Wednesday reported second-quarter results which were ahead of market expectations, driven by strong performances at its retail and wealth management businesses in Canada and the United States.

More than 3,000 locomotive engineers and conductors at Canadian Pacific Railway have gone on strike on Tuesday night, trade union Teamsters Canada said in a statement.


Gold futures: $1297.1; -0.15 pct

US crude: $66.86; 0.19 pct

Brent crude: $75.76; 0.49 pct

LME 3-month copper: $6803; -0.83 pct


Keyera Corp: CIBC raises price target to C$46 from C$45.

Kinder Morgan Canada Ltd: CIBC cuts price target to C$17 from C$22.

Laurentian Bank of Canada: CIBC cuts rating to underperformer from neutral; cuts price target to C$49 from C$55.


0815 ADP national employment for May: Expected 190,000; Prior 204,000

0830 Corporate profits preliminary for Q1: Prior 1.7 pct

0830 GDP 2nd estimate for Q1: Expected 2.3 pct; Prior 2.3 pct

0830 GDP sales preliminary for Q1: Expected 2.0 pct; Prior 1.9 pct

0830 GDP consumption spending preliminary for Q1: Prior 1.1 pct

0830 GDP deflator preliminary for Q1: Expected 2.0 pct; Prior 2.0 pct

0830 Core PCE prices preliminary for Q1: Expected 2.5 pct; Prior 1.9 pct

0830 PCE prices preliminary for Q1: Expected 2.7 pct; Prior 2.7 pct

0830 Advance goods trade balance for Apr: Prior -68.04 bln

0830 Wholesale inventories advance for Apr: Prior 0.3 pct

0830 Retail inventories advance for Apr: Prior -0.1 pct

1030 Texas Service Sector Outlook for May: Prior 14.5

1030 Dallas Fed Services Revenues for May: Prior 14.7


TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory ($1= C$1.30) (Reporting by Benny Thomas in Bengaluru; Editing by Shounak Dasgupta) )

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