July 9 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Tuesday, weighed down by falling gold prices.
Gold eased as the dollar rallied on expectations of a less dovish U.S. Federal Reserve ahead of testimony from Chairman Jerome Powell. Powell’s two-day testimony before Congress starts on Wednesday.
September futures on the S&P/TSX index were down 0.1% at 7:00 a.m. ET.
Canadian building permits data is due at 8:30 a.m. ET
The Toronto Stock Exchange’s S&P/TSX fell 79.04 points, or 0.48 percent, to 16,462.95 on Monday.
Dow Jones Industrial Average e-mini futures were down 0.37% at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.38% and Nasdaq 100 e-mini futures were down 0.5%.
ANALYST RESEARCH HIGHLIGHTS
Genworth MI Canada Inc: RBC raises rating to “outperform” from “sector perform”
Source Energy Services Ltd: Canaccord Genuity cuts rating to “hold” from “speculative buy”
Teck Resources Ltd: J.P. Morgan cuts target price to C$50 from C$55
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1,391.3; -0.64%
US crude: $57.97; +0.54%
Brent crude: $64.48; +0.58%
U.S. ECONOMIC DATA DUE ON TUESDAY
1000 JOLTS job openings for May: Expected 7.470 mln; Prior 7.449 mln
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$1 = C$1.31 Reporting by Nachiket Tekawade in Bengaluru; Editing by Maju Samuel
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