Dec. 15 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Thursday a day after the U.S. Federal Reserve hiked interest rates and signaled a faster pace of increases in 2017.
The Fed’s decision to raise rates comes as U.S. President-elect Donald Trump, who will be sworn in next month, is seen cutting taxes and increasing spending on infrastructure.
December futures on the S&P TSX index were up 0.12 percent at 7:15 a.m. ET.
Manufacturing sales for October is due at 8:30 a.m. ET
Canada’s main stock index fell the most in one month on Wednesday, retreating from a 19-month high the previous day, with resource shares leading a broad-based sell-off as oil and gold fell after the U.S. rate hike.
Dow Jones Industrial Average e-mini futures were up 0.1 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.02 percent and Nasdaq 100 e-mini futures were down 0.08 percent.
Bombardier Inc investors will be looking for more information on the cost of value guarantees for older jets and forecasts for the Canadian plane and train maker’s business jet unit at an investor day in New York on Thursday.
Canadian Natural Resources Ltd said it expected production to rise by 6 percent and set its 2017 capital budget at C$3.89 billion ($2.92 billion), a slight increase from last year.
Norwegian oil company Statoil ASA has agreed to sell its Canadian oil sands assets to Calgary-based Athabasca Oil Corp in a deal worth up to C$832 million, Statoil said in a statement on Wednesday.
ANALYST RESEARCH HIGHLIGHTS
Merus Labs International Inc : Canaccord Genuity cuts target price to C$3 from C$3.50
Valeant Pharmaceuticals International INC : Morgan Stanley cuts to “equal-weight” from “overweight”
Vermilion Energy Inc : RBC raises target price to C$56 from C$53
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,129.7; -2.72 pct
US crude : $51.09; +0.1 pct
Brent crude : $54.19; +0.54 pct
LME 3-month copper : $5,679.5; -0.74 pct
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 CPI mm, SA for Nov: Expected 0.2 pct; Prior 0.4 pct
0830 CPI yy, NSA for Nov: Expected 1.7 pct; Prior 1.6 pct
0830 Core CPI mm, SA for Nov: Expected 0.2 pct; Prior 0.1 pct
0830 Core CPI yy, NSA for Nov: Expected 2.2 pct; Prior 2.1 pct
0830 CPI Index, NSA for Nov: Expected 241.38; Prior 241.73
0830 Core CPI Index, SA for Nov: Prior 248.98
0830 Real weekly earnings mm for Nov: Expected -0.2 pct; Prior 0.0 pct
0830 Current account for Q3: Expected -111.6 bln; Prior -119.9 bln
0830 NY Fed Manufacturing for Dec: Expected 4.00; Prior 1.50
0830 Initial jobless claims: Expected 255,000; Prior 258,000
0830 Jobless claims 4-week average: Prior 252,500
0830 Continued jobless claims: Expected 2.025 mln; Prior 2.005 mln
0830 Philly Fed Business Index for Dec: Expected 9.0; Prior 7.6
0830 Philly Fed 6M Index for Dec: Prior 29.30
0830 Philly Fed Capex Index for Dec: Prior 19.10
0830 Philly Fed Employment for Dec: Prior -2.60
0830 Philly Fed Prices Paid for Dec: Prior 27.50
0830 Philly Fed New Orders for Dec: Prior 18.60
1000 NAHB Housing Market Index for Dec: Expected 63; Prior 63
1130 Cleveland fed CPI for Nov: Prior 0.2 pct
1600 Net L-T flows, exswaps for Oct: Prior -26.2 bln
1600 Foreign buying, T-bonds for Oct: Prior -76.6 bln
1600 Overall net capital flow for Oct: Prior -152.9 bln
1600 Net L-T flows, including. swaps for Oct: Prior -63.3 bln
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$1.33) (Reporting by Nandi Kaul in Bengaluru; Editing by Anil D’Silva)
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