Feb 24 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Tuesday, with March futures on the S&P TSX index down 0.27 percent at 7:15 a.m. ET.
No major economic events are scheduled for the day.
U.S. Fed chair Janet Yellen testifies before Congress on Tuesday and there is much uncertainty over whether she will echo the dovish tone of the minutes from the Fed’s last meeting, or reaffirm June as a window for a first rate hike.
Canada’s main stock index edged higher on Monday as weakness in shares of banks and insurers was offset by a surge in Valeant Pharmaceuticals International Inc after the drugmaker announced a major acquisition.
Dow Jones Industrial Average e-mini futures were up 0.04 percent at 7:15 a.m. ET on Tuesday, while S&P 500 e-mini futures were down 0.04 percent and Nasdaq 100 e-mini futures were down 0.06 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Husky Energy Inc, Canada’s No.3 integrated oil company, said it filed a shelf offering to raise up to C$3 billion.
Canadian fertilizer and farm retail dealer Agrium Inc reported a better-than-expected fourth-quarter profit helped by higher prices for most grains and oilseeds.
Private equity firm Onex Corp is looking to sell Sitel Worldwide Corp in a deal that could value one of the world’s largest call center operators at close to $1 billion, including debt, according to people familiar with the matter.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,195.1; -0.43 pct
US crude : $49.64; +0.38 pct
Brent crude : $59.33; +0.73 pct
LME 3-month copper : $5,700; +0.49 pct
ANALYST RESEARCH HIGHLIGHTS
Artek Exploration : Raymond James cuts to “market perform” from “outperform”
Timmins Gold : Numis cuts price target to C$1.60 from C$1.90; rating “buy”
Kelt Exploration : NBF raises price target to C$10.50 from C$9; rating “outperform”
U.S. ECONOMIC DATA DUE ON TUESDAY
0900 CaseShiller 20 mm SA for Dec: Expected +0.6 pct; Prior +0.7 pct
0900 CaseShiller 20 mm NSA for Dec: Expected -0.2 pct; Prior -0.2 pct
0900 CaseShiller 20 yy for Dec: Expected +4.3 pct; Prior +4.3 pct
0945 Markit Composite PMI flash for Feb: Prior +54.40
0945 Markit Services PMI flash for Feb: Expected +54.1; Prior +54.2
1000 Consumer confidence for Feb: Expected +99.6; Prior +102.9
1000 Rich Fed Composite Index for Feb: Prior +6.0
1000 Rich Fed Services Index for Feb: Prior +14.0
1030 Texas service sector outlook for Feb: Prior -2.8
1030 Dallas Fed services revenues for Feb: Prior +12.1
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$1.11) (Reporting by Nandi Kaul in Bengaluru; Editing by Savio D’Souza)
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