April 30 (Reuters) - Futures for Canada’s main stock index were lower on Tuesday, as investors awaited Canada’s February gross domestic product (GDP) data, which is due later in the day.
Statistics Canada is likely to report February gross domestic product was flat, after the economy grew 0.3 percent in January.
June futures on the S&P/TSX index were down 0.15 percent at 7:00 a.m. ET.
Canada’s gross domestic product for February and producer prices for March are scheduled for release at 8:30 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX fell 13.09 points, or 0.08 percent, to 16,600.37 on Monday.
Dow Jones Industrial Average e-mini futures were up 0.07 percent at 7:00 a.m. ET, while S&P 500 e-mini futures were flat and Nasdaq 100 e-mini futures were down 0.08 percent.
Oil and gas producer Encana Corp said it expects cost savings from its acquisition of Newfield Exploration to be 20 percent higher than its estimates, and reported a 6 percent rise in quarterly adjusted profit as it sold oil at higher prices.
E-commerce software maker Shopify Inc reported a wider quarterly loss, as costs surged nearly 50 percent.
Canadian National Railway Co on Monday became the latest railroad operator to blame higher operating expenses due to prolonged extreme cold weather for a lower-than-expected quarterly profit.
ANALYST RESEARCH HIGHLIGHTS
Canadian National Railway Co: CIBC raises price target to C$125 from C$119
First Quantum Minerals Ltd: TD Securities cuts price target to C$21 from C$25
West Fraser Timber Co Ltd: CIBC cuts price target to C$68 from C$70
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1,287.9; +0.5 percent
US crude: $64.36; +1.35 percent
Brent crude: $72.96; +1.28 percent
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 Employment wages QQ for Q1: Prior 0.6 pct
0830 Employment benefits QQ for Q1: Prior 0.7 pct
0830 Employment costs for Q1: Expected 0.7 pct; Prior 0.7 pct
0900 Caseshiller 20 mm SA for Feb: Expected 0.2 pct; Prior 0.1 pct
0900 Caseshiller 20 mm NSA for Feb: Expected 0 pct; Prior -0.2 pct
0900 Caseshiller 20 yy for Feb: Expected 3.2 pct; Prior 3.6 pct
0945 Chicago PMI for April: Expected 59; Prior 58.7
1000 Consumer Confidence for April: Expected 126; Prior 124.1
1000 Pending Homes Index for March: Prior 101.9
1000 Pending sales change mm for March: Expected 1.1 pct; Prior -1 pct
1030 Texas Service Sector Outlook for April: Prior -4.4
1030 Dallas Fed Services Revenues for April: Prior 12.8
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$1.34) (Reporting by Pathikrit Bandyopadhyay in Bengaluru; Editing by James Emmanuel)
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