Sept 27 (Reuters) - Canada’s main stock exchange futures inched higher on Wednesday ahead of the Bank of Canada’s economic progress report and as the United States prepares to outline a new tax plan.
Bank of Canada Governor Stephen Poloz will also hold a press conference at 12:00 p.m. ET (1600 GMT), his first since two back-to-back rate hikes, and investors will be looking for clues as to how aggressively the central bank may tighten from here.
Across the border, President Donald Trump will call for slashing tax rates on businesses and the wealthy as part of the new plan, which, if passed, would be his first significant legislative win since taking office in January.
December futures on the S&P TSX index were up 0.07 percent at 7:15 a.m. ET.
Dow Jones Industrial Average e-mini futures were up 0.06 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.14 percent and Nasdaq 100 e-mini futures were up 0.2 percent.
Canada’s main stock index retreated broadly on Tuesday from its highest close in four months in the previous session, as cooling commodity prices weighed on mining and oil stocks.
Britain is bitterly disappointed by a U.S. decision to slap duties on a Boeing competitor’s jets, Prime Minister Theresa May said, promising to fight for thousands of jobs in Northern Ireland that the ruling puts at risk.
Frontera Energy Corp is seeking to declare force majeure due to protests by Amazonian tribes in Peru that have halted its operations in the country’s biggest oil block, Peru’s energy regulator Perupetro said Tuesday.
The United States on Tuesday unveiled draft text on labor standards during the negotiations on modernizing the North American Free Trade Agreement as top officials from Canada, the United States and Mexico joined talks in Ottawa.
Freshii Inc: RBC cuts target price to C$8 from C$12
Gran Tierra Energy Inc: Eight Capital cuts target price to C$5.25 from C$6.50
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1,292.3; -0.72 pct
US crude: $51.95; +0.13 percent
Brent crude: $58.19; -0.43 percent
LME 3-month copper: $6488; +1.17 percent
0830 Build permits r number mm for Aug: Prior 1.3 mln
0830 Build permits r change mm for Aug: Prior 5.7 pct
0830 Durable goods for Aug: Expected 1.0 pct; Prior -6.8 pct
0830 Durables ex-transport for Aug: Expected 0.2 pct; Prior 0.6 pct
0830 Durables ex-defense mm for Aug: Prior -7.8 pct
0830 Nondefe cap ex-air for Aug: Expected 0.3 pct; Prior 1.0 pct
1000 Pending Homes Index for Aug: Prior 109.1
1000 Pending sales change mm Aug: Expected -0.5 pct; Prior -0.8 pct
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($1 = C$1.24) (Reporting by Pathikrit Bandyopadhyay in Bengaluru; Editing by Savio D’Souza)