Feb 3 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Tuesday as oil prices continued their upward trend after gaining more than 11 percent in the prior two sessions.
March futures on the S&P TSX index were up 0.92 percent at 7.15 a.m. ET.
Producer prices data for December is due at 8.30 a.m. ET
Canada’s main stock index ended about 1.6 percent higher on Monday as oil prices jumped on hopes that they might be nearing a bottom, sending shares of energy producers sharply higher.
Dow Jones Industrial Average e-mini futures were down 0.2 percent at 7.15 a.m. ET, while S&P 500 e-mini futures were up 0.34 percent and Nasdaq 100 e-mini futures were down 0.11 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Canadian Foreign Minister John Baird is unexpectedly set to resign from the federal cabinet this week amid what sources said had been tensions with the prime minister’s office.
The premier of Canada’s vast mineral-rich Arctic territory of Nunavut, Peter Taptuna, on Monday played down the idea of tax breaks to combat a slide in commodity prices, saying investors instead wanted more infrastructure.
COMMODITIES AT 7.15 a.m. ET
Gold futures : $1,280.30; +0.32 pct
US crude : $51.12; +3.11 pct
Brent crude : $56.75; +3.63 pct
LME 3-month copper : $5,662.50; +2.95 pct
ANALYST RESEARCH HIGHLIGHTS
Chorus Aviation Inc : CIBC raises to “sector performer” from “sector underperformer”
Allied Properties REIT : Dundee Capital cuts to “neutral” from “buy”
Onex Corp : Canaccord Genuity raises target price to C$81 from C$72
U.S. ECONOMIC DATA DUE ON TUESDAY
0855 Redbook mm: Prior -3.6 pct
0855 Redbook yy: Prior +3.2 pct
0945 ISM-New York Index for Jan: Prior +673.8
1000 Durables ex-defense, R mm for Dec: Prior -3.2 pct
1000 Durable goods, R mm for Dec: Prior -3.4 pct
1000 Factory orders mm for Dec: Expected -2.2 pct; Prior -0.7 pct
1000 Durables ex-transport R mm for Dec: Prior -0.8 pct
1330 Domestic car sales for Jan: Expected +5.80 mln; Prior +5.88 mln
1330 Domestic truck sales for Jan: Expected +7.70 mln; Prior +7.70 mln
1330 Total vehicle sales for Jan: Expected +16.60 mln; Prior +16.92 mln
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Reuters global stocks poll for Canada
Canadian markets directory
$1= C$1.25 Reporting by Nandi Kaul in Bengaluru; Editing by Savio D’Souza
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