Feb 2 (Reuters) - Stock futures indicated a lower start for Canada’s main stock index on Thursday, a day after the U.S. Federal Reserve gave no firm signal on the timing of its next rate move.
The Fed left interest rates unchanged on Wednesday but gave no firm signal of a hike in March, as it awaits more clarity on President Donald Trump’s fiscal policies, adding another layer to the uncertainty triggered by his recent comments and decisions.
March futures on the S&P TSX index were down 0.08 percent at 7:25 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index eked out a small gain on Wednesday as miners and energy stocks rose with higher prices for oil and some base metals, while nuclear producer Cameco Corp sank on news of a scrapped contract.
No major Canadian economic releases are scheduled.
Dow Jones Industrial Average e-mini futures were down 0.26 percent at 7:25 a.m. ET, while S&P 500 e-mini futures were down 0.26 percent and Nasdaq 100 e-mini futures were down 0.32 percent.
BCE Inc, Canada’s largest telecommunications company, reported a 32.5 percent rise in quarterly profit as it added customers and earned more per subscriber in its postpaid wireless business.
Mercedes maker Daimler expects that the NAFTA free trade agreement between the United States, Mexico and Canada will continue under new U.S. President Donald Trump, Daimler’s chief executive told a news conference.
COMMODITIES AT 7:25 a.m. ET
Gold futures : $1220.2; +1.26 percent
US crude : $54.10; +0.41 percent
Brent crude : $57.16; +0.63 percent
LME 3-month copper : $5935.5; -0.16 percent
ANALYST RESEARCH HIGHLIGHTS
CGI Group Inc : NBF raises target price to C$80 from C$76; rating “outperform”
Pine Cliff Energy Ltd : NBF cuts target price to C$1.05 from C$1.35
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Initial jobless claims: Expected 250,000; Prior 259,000
0830 Jobless claims 4-week average: Prior 245,500
0830 Continued jobless claims: Expected 2.065 mln; Prior 2.100 mln
0830 Labor costs preliminary for Q4: Expected 1.9 pct; Prior 0.7 pct
0830 Productivity preliminary for Q4: Expected 1.0 pct; Prior 3.1 pct
0945 ISM-New York Index for Jan: Prior 727.4
0945 ISM New York Business Conditions For Jan: Prior 63.8
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$1.30) (Reporting by Shradha Singh in Bengaluru; Editing by Maju Samuel)
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