Oct 30 - Stock futures pointed to a lower opening for Canada’s main stock index on Thursday, with December futures on the S&P TSX index down 0.11 percent at 7.15 a.m. ET.
No major economic events are scheduled for Thursday.
The Toronto Stock Exchange’s S&P/TSX composite index dropped on Wednesday as gold miners’ shares fell with bullion prices after the U.S. Federal Reserve offered an upbeat outlook for jobs and ended its stimulative bond-buying program.
Dow Jones Industrial Average e-mini futures were down 0.34 percent at 7.15 a.m. ET, while S&P 500 e-mini futures were down 0.43 percent and Nasdaq 100 e-mini futures were down 0.44 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Bombardier Inc reported a better-than-expected profit for the third quarter as the number of aircraft it delivered shot up nearly 60 percent.
Agnico Eagle Mines Ltd reported lower-than-expected adjusted earnings on Wednesday, partly due to increased spending on exploration. The company, however, raised its gold production forecasts for both this year and next due to strong operating results at its mines.
The head of Canada’s central bank on Wednesday welcomed the U.S. Federal Reserve’s decision to abandon its ultra-easy money policy, saying it showed the U.S. economy is gaining traction, but he warned that weaker oil prices would crimp Canadian growth.
COMMODITIES AT 7.15 a.m. ET
Gold futures : $1,204.10; -1.7 pct
US crude : $81.44; -0.92 pct
Brent crude : $86.37; -0.86 pct
LME 3-month copper : $6,740; -1.1 pct
ANALYST RESEARCH HIGHLIGHTS
Atco Ltd : National Bank Financial cuts rating to “sector perform” from “outperform”
Canadian Utilities Ltd : National Bank Financial cuts price target to C$44 from C$45
Teck Resources : Canaccord Genuity cuts price target to C$21 from C$22; rating “hold”
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 GDP Advance for Q3: Expected 3.0 pct; prior 4.6 pct
0830 GDP Sales Advance for Q3: Expected 3.5 pct; prior 3.2 pct
0830 GDP Cons Spending Advance for Q3: Prior 2.5 pct
0830 GDP Deflator Advance for Q3: Expected 1.4 pct; prior 2.1 pct
0830 Core PCE Prices Advance for Q3: Expected 1.4 pct; prior 2.0 pct
0830 PCE Prices Advance for Q3: Expected 1.3 pct; prior 2.3 pct
0830 Initial Jobless Claims: Expected 283,000; prior 283,000
0830 Jobless Claims 4-Wk Avg: Prior 281,000
0830 Continued Jobless Claims: Expected 2.350 mln; prior 2.351 mln
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