May 28, 2020 / 11:33 AM / a month ago

CANADA STOCKS-TSX futures rise on recovery hopes

May 28 (Reuters) - Canada’s main stock index futures rose on Thursday as countries around the world continued to ease lockdown measures, and tensions between China and the U.S. failed to dampen investor sentiment.

June futures on the S&P/TSX index were up 0.33% at 7:00 a.m. ET.

Canada’s current account balance for Q1 is due at 08:30 a.m. ET

The Toronto Stock Exchange’s S&P/TSX composite index closed up 0.82% at 15,272.03 on Wednesday.

Dow Jones Industrial Average e-mini futures were up 0.44% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.15% and Nasdaq 100 e-mini futures were down 0.3%.

TOP STORIES

Canadian Imperial Bank of Commerce reported a 70% slump in quarterly profit, as it set aside more money to cover potential loan-losses from the COVID-19 pandemic.

TD Bank Group reported a 52% fall in quarterly profit, as Canada’s second-biggest lender by market value set aside more money to cover loan losses due to the COVID-19 pandemic.

Enbridge Inc said on Wednesday coating repairs were under way at its Line 5 oil pipeline in the Straits of Mackinac in Michigan, as exposed metal spots were found during seasonal maintenance that began in May.

ANALYST RESEARCH HIGHLIGHTS

Aecon Group Inc: Canaccord Genuity cuts target price to C$19 from C$22

Bank of Montreal: RBC cuts target price to C$75 from C$76

Enbridge Inc: Jefferies raises target price to C$49 from C$47

Royal Bank of Canada: Credit Suisse raises target price to C$101 from C$100

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,732.4; +0.78%

US crude: $32.59; -0.68%

Brent crude: $34.61; -0.5%

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Durable goods for April: Expected -19.0%; Prior -14.7%

0830 Durables ex-transport for April: Expected -14.0%; Prior -0.4%

0830 Durables ex-defense mm for April: Prior -16.0%

0830 Nondefense cap ex-air for April: Expected -10.0%; Prior -0.1%

0830 GDP 2nd estimate for Q1: Expected -4.8%; Prior -4.8%

0830 GDP sales preliminary for Q1: Prior -4.3%

0830 GDP consumer spending preliminary for Q1: Prior -7.6%

0830 GDP deflator preliminary for Q1: Expected 1.4%; Prior 1.4%

0830 Core PCE prices preliminary for Q1: Expected 1.8%; Prior 1.8%

0830 PCE prices preliminary for Q1: Expected 1.3%; Prior 1.3%

0830 Initial jobless claims: Expected 2,100,000; Prior 2,438,000

0830 Jobless claims 4-week average: Prior 3,042,000

0830 Continued jobless claims: Expected 25.750 mln; Prior 25.073 mln

1000 Pending Homes Index for April: Prior 88.2

1000 Pending sales change mm for April: Expected -15.0%; Prior -20.8%

1100(approx.) KC Fed Manufacturing for May: Prior -62

1100(approx.) KC Fed Composite Index for May: Prior -30

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$1.38 Reporting by Priyanka Das in Bengaluru; Editing by Krishna Chandra Eluri

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