March 16 (Reuters) - Stock futures pointed to a slightly lower opening for Canada’s main stock index on Wednesday ahead of the outcome of the U.S. Federal Reserve’s policy meeting.
The U.S. Federal Reserve is expected to hold interest rates steady as it balances continued concerns about the health of the global economy with fresh signs that domestic inflation is starting to rear its head.
March futures on the S&P TSX index were down 0.03 percent at 7:15 a.m. ET.
Manufacturing sales and foreign securities data is due at 8:30 a.m. ET
Canada’s main stock index fell on Tuesday as Valeant Pharmaceuticals International Inc tanked, overshadowing gains for gold miners and financials.
Dow Jones Industrial Average e-mini futures were up 0.01 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.01 percent and Nasdaq 100 e-mini futures were up 0.05 percent.
Canada’s Mitel Networks Corp is in talks to merge with U.S. peer Polycom Inc, in a deal that would combine the voice and telephony equipment providers and heed the demands of hedge fund Elliott Management, sources said on Tuesday.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,230.40; +0.00 pct
US crude : $37.09; +2.04 pct
Brent crude : $39.40; +1.70 pct
LME 3-month copper : $4,957.00; +0.16 pct
Alimentation Couche-Tard Inc : CIBC cuts target price to C$76 from C$82
Detour Gold Corp : Goldman Sachs cuts ratings to “neutral”
0830 Consumer Prices mm, SA for Feb: Expected -0.2 pct; Prior 0.0 pct
0830 Consumer Prices yy, NSA for Feb: Expected 0.9 pct; Prior 1.4 pct
0830 Core Consumer Prices mm, SA for Feb: Expected 0.2 pct; Prior 0.3 pct
0830 Core Consumer Prices yy, NSA for Feb: Expected 2.2 pct; Prior 2.2 pct
0830 Consumer Prices Index, NSA for Feb: Expected 236.89; Prior 236.92
0830 Core Consumer Prices Index, SA for Feb: Prior 245.23
0830 Real weekly earnings mm for Feb: Prior 0.7 pct
0830 Building permits: number for Feb: Expected 1.200 mln; Prior 1.204 mln
0830 Build permits: change mm for Feb: Prior 0.0 pct
0830 Housing starts number mm for Feb: Expected 1.150 mln; Prior 1.099 mln
0830 House starts mm: change for Feb: Prior -3.8 pct
0915 Industrial output mm for Feb: Expected -0.3 pct; Prior 0.9 pct
0915 Capacity utilization mm for Feb: Expected 76.9 pct; Prior 77.1 pct
0915 Manufacturing output mm for Feb: Expected 0.1 pct; Prior 0.5 pct
1130 Cleveland Fed Consumer Prices for Feb: Prior 0.2 pct
1400 Fed funds target rate: Expected 0.375 pct; Prior 0.375 pct
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($1= C$1.34) (Reporting by Riniki Sanyal in Bengaluru)