Oct 29 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Tuesday as oil prices dropped on expectations of rising U.S. crude inventories.
Investors’ focus is also on central bank policy meetings in the United States and Canada as interest rate decisions are expected on Wednesday.
December futures on the S&P/TSX index were down 0.47% at 7:30 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index closed 0.10% lower at 16,387.53 on Monday.
The Dow Jones Industrial Average e-mini futures were down 0.17% at 7:30 a.m. ET, while S&P 500 e-mini futures were 0.12% lower and the Nasdaq 100 e-mini futures had slid 0.04%.
The Bank of Canada is likely to keep interest rates steady on Wednesday in its first policy announcement since the federal election, despite signs that investors seeking higher-yielding currencies are shifting more money into Canadian dollars.
Air Canada reported lower-than-expected third-quarter profit, hurt by lower flight capacity in the wake of the grounding of Boeing Co’s 737 MAX airplanes.
Canadian e-commerce company Shopify Inc, posted a bigger net loss for the third quarter, as it spent more to expand its customer network.
Canada’s Knight Therapeutics Inc and shareholders of Biotoscana Investments expect to conclude the transfer of control of the Latin American pharmaceutical company by Nov. 29, the latter said in a securities filing on Monday.
Capital Power Corp: RBC raises target price to C$31 from C$30
Information Services Corp: CIBC raises target price to C$18.5 from C$18
Teck Resources Ltd: CIBC cuts target price to C$37 from C$39
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1485.4; -0.47%
US crude: $55.16; -1.16%
Brent crude: $60.93; -1.04%
0900 Caseshiller 20 mm SA for Aug: Expected 0.0%; Prior 0.0%
0900 Caseshiller 20 mm NSA for Aug: Prior 0.1%
0900 Caseshiller 20 yy for Aug: Expected 2.1%; Prior 2.0%
1000 Consumer Confidence for Oct: Expected 128.0; Prior 125.1
1000 Pending Homes Index for Sep: Prior 107.3
1000 Pending sales change mm for Sep: Expected 0.9%; Prior 1.6%
1030 (approx.) Texas Service Sector Outlook for Oct: Prior 6.3
1030 (approx.) Dallas Fed Services Revenues for Oct: Prior 12.9
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($1 = C$1.31) (Reporting by Nayyar Rasheed in Bengaluru; Editing by Vinay Dwivedi)