Feb 14 (Reuters) - Futures for Canada’s main stock index edged up on Friday with higher oil prices providing support, while investors kept a wary eye on possible economic fallout from the coronavirus outbreak.
Oil prices rose and held on track for their first weekly gain since early January as investors bet that the economic impact of the virus would be short-lived and hoped for further Chinese central bank stimulus to tackle any slowdown.
March futures on the S&P/TSX index were up 0.17% at 7:00 a.m. ET.
The Toronto Stock Exchange’s TSX fell 0.07% to 17,821.17 on Thursday.
Dow Jones Industrial Average e-mini futures were up 0.13% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.19% and Nasdaq 100 e-mini futures were up 0.34%.
Canopy Growth Corp said on Friday it will focus on reducing costs as the pot producer struggles with a slump in weed prices from oversupply and higher expenses that led to a bigger adjusted loss in the quarter.
Telecom operator Telus Corp will soon begin rolling out its 5G network and its initial module will be with Huawei Technologies Co Ltd’s equipment, the company’s Chief Financial Officer Doug French said on Thursday.
Pot grower CannTrust Holdings Inc on Thursday named Greg Guyatt as chief executive officer, months after it fired Peter Aceto following a Health Canada finding that the marijuana producer grew cannabis in unlicensed rooms.
ANALYST RESEARCH HIGHLIGHTS
Aurora Cannabis Inc: Canaccord Genuity cuts target price to C$2.25 from C$3
Lundin Gold Inc: CIBC raises rating to outperformer from neutral
Canadian Tire Corporation: National Bank of Canada ups target price to C$178 from C$174
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1,576.3; +0.02%
US crude: $52.15; +1.42%
Brent crude: $57.13; +1.40%
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Import prices mm for Jan: Expected -0.2%; Prior 0.3%
0830 Export prices mm for Jan: Expected -0.1%; Prior -0.2%
0830 Import prices yy for Jan: Prior 0.5%
0830 Retail sales ex-autos mm for Jan: Expected 0.3%; Prior 0.7%
0830 Retail sales mm for Jan: Expected 0.3%; Prior 0.3%
0830 Retail ex gas/autos for Jan: Prior 0.5%
0830 Retail control for Jan: Expected 0.3%; Prior 0.5%
0830 (approx.) Retail sales YoY for Jan: Prior 5.82%
0915 Industrial production mm for Jan: Expected -0.2%; Prior -0.3%
0915 Capacity utilization SA for Jan: Expected 76.8%; Prior 77.0%
0915 Manufacturing output mm for Jan: Expected -0.1%; Prior 0.2%
0915 (approx.) Industrial production YoY for Jan: Prior -1.01%
1000 Business inventories mm for Dec: Expected 0.1%; Prior -0.2%
1000 Retail inventories ex-auto rev for Dec: Prior 0.0%
1000 U Mich Sentiment Preliminary for Feb: Expected 99.5; Prior 99.8
1000 U Mich Conditions Preliminary for Feb: Expected 115.0; Prior 114.4
1000 U Mich Expectations Preliminary for Feb: Expected 90.3; Prior 90.5
1000 (approx.) U Mich 1 year inflation preliminary for Feb: Prior 2.5%
1000 (approx.) U Mich 5-year inflation preliminary for Feb: Prior 2.5%
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Reuters global stocks poll for Canada
Canadian markets directory
$1 = 1.32 Canadian dollars Reporting by Yoganand KN in Bengaluru; Editing by Shounak Dasgupta
Our Standards: The Thomson Reuters Trust Principles.