June 17, 2019 / 11:39 AM / 2 months ago

CANADA STOCKS-TSX futures flat ahead of Fed rate cut decision

June 17 (Reuters) - Futures remained flat for Canada’s main stock index on Monday on global cues, as investors await the U.S. Federal Reserve’s interest rate cut decision.

The Fed’s policy-setting committee is due to release its latest statement and economic projections at 2 p.m. EDT on Wednesday after the end of a two-day meeting.

June futures on the S&P/TSX index were up 0.02% at 7:00 a.m. ET.

Data on foreign investment in Canadian securities and Canadian investment in foreign securities are due at 8:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX index rose 62.65 points, or 0.39%, to 16,301.91 on Friday.

Dow Jones Industrial Average e-mini futures were flat at 7:00 a.m. ET, while S&P 500 e-mini futures edged up 0.03% and Nasdaq 100 e-mini futures were up 0.12%.

TOP STORIES

Canada looks set to approve a hotly-debated plan to expand an oil pipeline this week, people familiar with the process told Reuters, but the move is unlikely to help Prime Minister Justin Trudeau rebuild flagging support ahead of an October election.

The Canadian government’s contracting arm is backing a proposed new satellite system that will use big data analytics to provide commercially available data about the Earth and its orbit amid growing concerns about the risks posed by space debris.

ANALYST RESEARCH HIGHLIGHTS

Gibson Energy Inc: JP Morgan raises rating to overweight from neutral

Hexo Corp: CIBC cuts rating to neutral from outperformer

Alacer Gold Corp: RBC raises target price to C$5.50 from C$4

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,334.6; -0.53%

US crude: $51.85; -1.26%

Brent crude: $61.19; -1.32%

U.S. ECONOMIC DATA DUE ON MONDAY

0830 NY Fed Manufacturing for June: Expected 11; Prior 17.8

1000 NAHB Housing Market Index for June: Expected 67; Prior 66

1600 Net L-T flows,exswaps for April: Prior -28.4 bln

1600 Foreign buying, T-bonds for April: Prior -12.5 bln

1600 Overall net capital flows for April: Prior -8.1 bln

1600 Net L-T flows,inclusion swaps for April: Prior -40.6 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$1.34)

Reporting by Hrithik Kiran Bagade in Bengaluru; Editing by Shinjini Ganguli

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