January 17, 2020 / 12:53 PM / 5 months ago

CANADA STOCKS-TSX futures rise on promising China data

Jan 17 (Reuters) - Futures for Canada’s main stock index rose on Friday after Chinese data suggested that the world’s second-biggest economy was stabilizing.

China’s economic growth cooled to its weakest in nearly 30 years in 2019, boosting expectations for economic stimulus from Beijing.

However, data also showed the Chinese economy ended the rough year on a somewhat firmer note as a trade truce with the United States revived business confidence and earlier growth boosting measures appeared to show early signs of success.

March futures on the S&P/TSX index were up 0.23% at 7:00 a.m. ET.

Securities Foreign data for November is due at 8:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index closed up 0.40% at 17,484.77 on Thursday.

Dow Jones Industrial Average e-mini futures were up 0.27% at 7:10 a.m. ET, while S&P 500 e-mini futures were up 0.25% and Nasdaq 100 e-mini futures were up 0.39%.

ANALYST RESEARCH HIGHLIGHTS

Bombardier: CIBC cuts target price to C$2.25 from C$3

Canadian Pacific Railway Ltd: Scotiabank raises target price to C$340 from C$320

Pinnacle Renewable Energy Inc: National Bank of Canada raises PT to C$15 from C$14

COMMODITIES AT 7:10 a.m. ET

Gold futures: $1556.6; rose 0.39%

US crude: $58.69; rose 0.29%

Brent crude: $64.84; rose 0.34%

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Building permits: number for Dec: Expected 1.468 mln; Prior 1.474 mln

0830 Build permits: change mm for Dec: Prior 0.9%

0830 Housing starts number for Dec: Expected 1.375 mln; Prior 1.365 mln

0830 House starts mm: change for Dec: Prior 3.2%

0915 Industrial production mm for Dec: Expected -0.2%; Prior 1.1%

0915 Capacity utilization SA for Dec: Expected 77.1%; Prior 77.3%

0915 Manufacturing output mm for Dec: Expected -0.2%; Prior 1.1%

0915 Industrial production YoY for Dec: Prior -0.75%

1000 JOLTS job openings for Nov: Expected 7.233; Prior 7.267 mln

1000 U Mich Sentiment Preliminary for Jan: Expected 99.3; Prior 99.3

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 = 1.30 Canadian dollars)

Reporting by Pooja Kesavan in Bengaluru; Editing by Aditya Soni

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