September 22, 2016 / 11:37 AM / a year ago

CANADA STOCKS-Futures rise as Fed keeps rates unchanged

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Sept 22 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Thursday after the U.S. Federal Reserve kept interest rates unchanged.

The central bank strongly signaled it could still tighten monetary policy by the end of this year as the labor market improved further.

December futures on the S&P TSX index were up 0.29 percent at 7:15 a.m. ET.

Canada's main stock index notched its highest close in almost two weeks on Wednesday as gold miners surged after the U.S. Fed held interest rates steady, which also boosted shares of dividend-paying utility companies.

Dow Jones Industrial Average e-mini futures were up 0.29 percent at 7:15 a.m. ET. S&P 500 e-mini futures were up 0.27 percent and Nasdaq 100 e-mini futures were up down 0.30 percent.

(Morning News Call newsletter ; The Day Ahead newsletter

Top Stories

General Motors Co will use its Oshawa, Ontario, assembly plant to expand production of pick-up trucks for North America if a tentative agreement with Canadian auto workers is ratified, sources familiar with Canadian labor negotiations said on Wednesday.

TransCanada Corp said its U.S. natural gas pipeline unit had reached a settlement with customers over proposed transportation rate hikes made earlier this year.

Analyst Research Highlights

Emera Inc : Raymond James starts coverage with "market perform" rating, C$51.50 target price

Imperial Oil Ltd : Raymond James raises rating to "outperform" from "market perform"

TMX Group Ltd : TD Securities raises target price to C$69 from C$65


Gold futures : $1,333.6; +0.48pct

US crude : $45.80; +1.01 pct

Brent crude : $47.19; +0.77 pct

LME 3-month copper : $4,828.00; +1.36 pct

u.s. Economic Data Due on Thursday

0830 Initial jobless claims: Expected 262,000; Prior 260,000

0830 Jobless claims 4-week average: Prior 260,750

0830 Continued jobless claims: Expected 2.143 mln; Prior 2.143 mln

0830 National Activity Index for August: Prior 0.27

0900 Monthly home price mm for July: Prior 0.2 pct

0900 Monthly home price yy for July: Prior 5.6 pct

0900 Monthly Home Price Index for July: Prior 234.8

1000 Existing home sales for August: Expected 5.45 mln; Prior 5.39 mln

1000 Existing home sales percentage change for August: Expected 1.1 pct; Prior -3.2 pct

1000 Leading index change mm for August: Expected 0.0 pct; Prior 0.4 pct

1100 KC Fed Manufacturing for September: Prior -7

1100 KC Fed Composite Index for September: Prior -4

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$1.30) (Reporting by Astha Rawat in Bengaluru; Editing by Maju Samuel)

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