December 20, 2018 / 12:31 PM / 8 months ago

CANADA STOCKS-TSX futures up after gold prices rise

Dec 20 (Reuters) - Futures pointed to a higher opening for Canada’s main stock index on Thursday as gold prices rose, supported by a slump in global equities and the U.S. dollar after the U.S. Federal Reserve signaled more hikes ahead.

After weeks of market volatility and calls by President Donald Trump for the Federal Reserve to stop raising interest rates, the U.S. central bank instead did it again, and stuck by a plan to keep withdrawing support from an economy it views as strong.

December futures on the S&P/TSX index were up 0.4 percent at 7:00 a.m. ET.

Canadian wholesale trade data is due at 8:30 a.m. ET

The Toronto Stock Exchange’s S&P/TSX fell 152.83 points, or 1.06 percent, to 14,264.06 on Wednesday.

Dow Jones Industrial Average e-mini futures were up 0.27 percent at 7:00 a.m. ET, S&P 500 e-mini futures 0.32 percent and Nasdaq 100 e-mini futures 0.54 percent.

TOP STORIES

Canada’s Bombardier Inc will deliver its first Global 7500 corporate jet on Thursday, premiering a full-sized bed and optional en-suite shower, in a challenge to U.S. planemaker Gulfstream at the top of the luxury jet market.

Hong Kong has awarded Bowtie Life Insurance, a company backed by Sun Life Financial’s Hong Kong unit, the first online-only insurance licence under the city’s “fast-track” scheme.

ANALYST RESEARCH HIGHLIGHTS

Sun Life Financial Inc: CIBC cuts price target to C$53 from C$55

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1256.4; +0.3 percent

US crude: $46.49; -3.49 percent

Brent crude: $55.29; -3.41 percent

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial jobless claims : Expected 216,000; Prior 206,000

0830 Jobless claims 4-week average : Prior 224,750

0830 Continued jobless claims : Expected 1.665 mln; Prior 1.661 mln

0830 Philly Fed Business Index for Dec: Expected 15; Prior 12.9

0830 Philly Fed 6M Index for Dec: Prior 27.2

0830 Philly Fed Capex Index for Dec: Prior 36.1

0830 Philly Fed Employment for Dec: Prior 16.3

0830 Philly Fed Prices Paid for Dec: Prior 39.3

0830 Philly Fed New Orders for Dec: Prior 9.1

1000 Leading index change mm for Nov: Expected 0.0 pct; Prior 0.1 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$1.35) (Reporting by Nayyar Rasheed in Bengaluru)

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