August 28, 2018 / 11:39 AM / in 3 months

CANADA STOCKS-Futures gain on U.S.-Mexico trade deal

Aug 28 (Reuters) - Stock futures pointed to a higher opening for Canada’s main equity index on Tuesday, as a trade deal between the United States and Mexico to overhaul the North American Free Trade Agreement lifted investor sentiment.

The United States and Mexico agreed on Monday to overhaul the North American Free Trade Agreement (NAFTA), putting pressure on Canada to agree to new terms on auto trade and dispute settlement rules to remain part of the three-nation pact.

September futures on the S&P/TSX index were up 0.08 percent at 7:15 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX closed up on Monday.

Dow Jones Industrial Average e-mini futures were up 0.11 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.1 percent and Nasdaq 100 e-mini futures were up 0.2 percent.

TOP STORIES

Bank of Nova Scotia, reported a 5 percent increase in third-quarter earnings, helped by growth in its domestic and international businesses.

Bank of Montreal, reported third-quarter results which were ahead of market expectations, helped by a strong performance from its U.S. business.

ANALYST RESEARCH HIGHLIGHTS

First Majestic Silver Corp: BMO raises to outperform (speculative) from market perform; raises target price to C$9.50 from C$8.75

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1218.9; rose 0.24 percent

US crude: $68.9; rose 0.04 percent

Brent crude: $76.62; rose 0.54 percent

LME 3-month copper: $6136; rose 0.51 percent

U.S. ECONOMIC DATA DUE ON TUESDAY

0830 Advance goods trade balance for Jul: Prior -67.92 bln

0830 Wholesale inventories advance for Jul: Prior 0.1 pct

0830 Retail inventories ex-auto advance for Jul: Prior 0.2 pct

0900 CaseShiller 20 MM SA for Jun: Expected 0.2 pct; Prior 0.2 pct

0900 CaseShiller 20 MM NSA for Jun: Prior 0.7 pct

0900 CaseShiller 20 YY for Jun: Expected 6.5 pct; Prior 6.5 pct

1000 Consumer Confidence for Aug: Expected 126.8; Prior 127.4

1000 Rich Fed Composite Index for Aug: Prior 20

1000 Rich Fed, Services Index for Aug: Prior 23

1000 Rich Fed Manufacturing Shipments for Aug: Prior 16

1030 Texas Service Sector Outlook for Aug: Prior 21.1

1030 Dallas Fed Services Revenues for Aug: Prior 25.4

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

$1=1.31C$ Reporting by Swathi Nair in Bengaluru; Editing by Shounak Dasgupta

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