Canada’s main stock index futures were higher on Wednesday, as oil prices steadied on hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts.
June futures on the S&P/TSX index were up 0.22% at 7:00 a.m. ET.
Canadian housing starts and building permits data is due at 8:30 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX closed up 0.16% at 13,614.14 on Tuesday.
Dow Jones Industrial Average e-mini futures were up 0.47% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.44% and Nasdaq 100 e-mini futures were up 0.6%.
More than two dozen employees of Denver-based shale producer Ovintiv Inc sent form letters this week to Texas energy regulators opposing any state-mandated oil production cuts in the face of plunging energy prices.
ANALYST RESEARCH HIGHLIGHTS
Laurentian Bank of Canada: Canaccord Genuity cuts target price to C$23 from C$32
Marathon Gold Corp: National Bank of Canada raises price target to C$2.50 from C$2.25
Uni-Select Inc: BMO cuts target price to C$5 from C$12
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1,675; +0.14%
US crude: $24.4; +3.26%
Brent crude: $31.96; +0.28%
U.S. ECONOMIC DATA DUE ON WEDNESDAY
1200 TR IPSOS PCSI for Apr: Prior 60.10
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$1= C$1.40 Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Shounak Dasgupta
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