Nov 1 (Reuters) - Canadian stock futures rose on Tuesday ahead of the release of the gross domestic product data for August and Bank of Canada Governor Stephen Poloz’s speech on inflation targets.
Poloz’s comments will be parsed for clues on the future path of monetary policy after the central bank held rates steady in October.
December futures on the S&P TSX index were up 0.18 percent at 7:15 a.m. ET.
Gross domestic product data for August is due at 8:30 a.m. ET and RBC Manufacturing PMI data for October is due at 9:30 a.m. ET.
Canada’s benchmark stock index ended a touch higher on Monday as gold miners gained, but energy stocks fell and Valeant Pharmaceuticals International Inc slumped on a report its former executives are the focus of a U.S. criminal probe.
Dow Jones Industrial Average e-mini futures were up 0.15 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.2 percent and Nasdaq 100 e-mini futures were up 0.17 percent.
Thomson Reuters Corp on Tuesday reported slightly lower quarterly revenue excluding currency effects and said it would take a charge of $200 million to $250 million in the fourth quarter to simplify and streamline its business.
Valeant Pharmaceuticals International Inc’s former chief executive and chief financial officer are at the center of a U.S. criminal probe against the drugmaker over its ties to a specialty pharmacy that helped boost its sales, Bloomberg reported on Monday.
BlackBerry Ltd has signed a deal to work directly with Ford Motor Co to expand the carmaker’s use of its QNX secure operating system, the Canadian technology company said on Monday, as Ford develops increasingly automated vehicles.
ANALYST RESEARCH HIGHLIGHTS
Acadian Timber Corp : CIBC raises target price to C$17 from C$16
First Quantum Minerals : Berenberg raises target price to C$8.25 from C$8
Vermilion Energy : National Bank Financial starts with rating “outperform” and C$66 target price
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,286.8; +1.08 pct
US crude : $46.77; -0.21 pct
Brent crude : $48.81; +0.41 pct
LME 3-month copper : $4,865.50; +0.26 pct
U.S. ECONOMIC DATA DUE ON TUESDAY
0855 Redbook mm: Prior -0.1 pct
0855 Redbook yy: Prior +0.3 pct
0945 Markit Manufacturing PMI Final for Oct: Prior 53.2
1000 Construction spending mm for Sep: Expected +0.5 pct; Prior -0.7 pct
1000 ISM Manufacturing PMI for Oct: Expected 51.7; Prior 51.5
1000 ISM Manufacturing Prices Paid for Oct: Expected 54.0; Prior 53.0
1000 ISM Manufacturing Employment Index for Oct: Expected 50.0; Prior 49.7
1000 ISM Manufacturing New Orders Index for Oct: Prior 55.1
1030 Texas Services Sector Outlook for Oct: Prior 4.7
1030 Dallas Fed Services Revenues: Prior 13.0
1330 Domestic car sales for Oct: Expected 5.30 mln; Prior 5.30 mln
1330 Domestic truck sales for Oct: Expected 8.60 mln; Prior 8.85 mln
1330 Total vehicle sales for Oct: Expected 17.50 mln; Prior 17.76 mln
1330 All car sales for Oct: Prior 7.24 mln
1330 All truck sales for Oct: Prior 10.51 mln
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 Nivedita Balu in Bengaluru; Editing by Anil D’Silva)
Our Standards: The Thomson Reuters Trust Principles.