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%.
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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