August 1, 2017 / 11:46 AM / 3 months ago

CANADA STOCKS-Futures rise with earnings in focus

Aug 1 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Tuesday as investors assessed quarterly earnings of major companies, including Thomson Reuters, Air Canada and WestJet Airlines.

September futures on the S&P TSX index were up 0.24 percent at 7:20 a.m. ET.

Markit’s manufacturing PMI report is due at 9:30 a.m. ET .

Canada’s main stock index edged up on Monday as higher bond yields supported financial shares and base metal miners got a boost from a 2-year peak for copper prices, but the TSX still lost ground for the third straight month.

Dow Jones Industrial Average e-mini futures were up 0.46 percent at 7:20 a.m. ET, while S&P 500 e-mini futures were up 0.2 percent and Nasdaq 100 e-mini futures were up 0.34 percent.

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TOP STORIES

Thomson Reuters Corp on Tuesday reported higher-than-expected second-quarter earnings and increased its full-year forecast for margins and adjusted earnings per share as it saw improved results across its largest businesses.

Air Canada’s second-quarter profit smashed past analysts’ estimates as it flew more passengers at lower costs.

Canada’s long housing boom has drawn thousands into the sector, from realtors and home stagers to construction workers, and a looming slowdown threatens to trigger an exodus that could wipe out many of those jobs and force the economy to shift down.

ANALYST RESEARCH HIGHLIGHTS

Cott Corp: BMO raises price target to $18 from $17

Precision Drilling Corp: BMO cuts price target to C$6 from C$9

Spartan Energy Corp: Canaccord Genuity starts with hold rating; price target C$7

COMMODITIES AT 7:20 a.m. ET

Gold futures: $1266.2; -0.03 percent

US crude: $50.01; -0.32 percent

Brent crude: $52.45; -0.51 percent

LME 3-month copper: $6346.5; -0.35 percent

U.S. ECONOMIC DATA DUE ON TUESDAY

0830 Personal consumption real mm for June: Prior 0.1 pct

0830 Personal income mm for June: Expected 0.4 pct; Prior 0.4 pct

0830 Consumption, adjusted mm for June: Expected 0.1 pct; Prior 0.1 pct

0830 Core PCE price index mm for June: Expected 0.1 pct; Prior 0.1 pct

0830 Core PCE price index yy for June: Prior 1.4 pct

0830 PCE price index mm for June: Prior -0.1 pct

0830 PCE price index yy for June: Prior 1.4 pct

0945 Markit Manufacturing PMI Final for July: Prior 53.2

1000 Construction spending mm for June: Expected 0.3 pct; Prior 0 pct

1000 ISM Manufacturing PMI for July: Expected 56.5; Prior 57.8

1000 ISM Manufacturing Prices Paid for July: Expected 55.5; Prior 55

1000 ISM Manufacturing Employment Index for July: Expected 55.1; Prior 57.2

1000 ISM Manufacturing New Orders Index for July: Prior 63.5

1030 Texas Services Sector Outlook for July: Prior 10.1

1030 Dallas Fed Services Revenue for July: Prior 14.8

1530 Domestic car sales for July: Expected 4.55 mln; Prior 4.27 mln

1530 Total vehicle sales for July: Expected 16.80 mln; Prior 16.51 mln

1530 Domestic truck sales for July: Expected 8.67 mln; Prior 8.77 mln

1530 All car sales for July: Prior 5.91 mln

1530 All truck sales for July: Prior 10.59 mln

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$1.25) (Reporting by Nikhil Kumar in Bengaluru; Editing by Anil D‘Silva)

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