March 1 Stock futures pointed to a higher
opening for Canada's main stock index on Wednesday ahead of the
Bank of Canada's interest rate decision.
The central bank is widely expected to hold interest rates
at 0.50 percent when it announces its decision at 10:00 a.m. ET.
March futures on the S&P TSX index were up 0.62
percent at 7:15 a.m. ET.
Current account data is due at 8:30 a.m. ET
The Toronto Stock Exchange's S&P/TSX composite index settled
down 0.42 percent on Tuesday, as Bank of Nova Scotia
led losses in the heavyweight financial banking sector after
reporting quarterly earnings in line with expectations.
Dow Jones Industrial Average e-mini futures were up
0.43 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
were up 0.51 percent and Nasdaq 100 e-mini futures
were up 0.5 percent.
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National Bank of Canada said its first-quarter
profit surged 90.4 percent from a year ago, when it took a
write-off charge of C$236 million.
TransCanada Corp has suspended a $15 billion NAFTA
suit filed against the United States over the Keystone XL
pipeline, the company said on Tuesday, after U.S. President
Donald Trump approved the project last month.
Torstar Corp, the owner of one of Canada's largest
circulation daily newspapers, reported a fourth-quarter profit,
compared with a loss a year earlier, when the company recorded a
one-time charge of C$213.3 million.
ANALYST RESEARCH HIGHLIGHTS
Bank of Montreal: Desjardins ups target price to
C$104 from C$99; rating "hold"
Bank of Nova Scotia: Barclays raises target price
to C$78 from C$73
Capreit: National Bank raises target price to
C$35 from C$34
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1242.6; -0.8 percent
US crude: $54.13; +0.22 percent
Brent crude: $56.67; +0.28 percent
LME 3-month copper: $6034.5; +1.03 percent
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Personal consumption real mm for Jan: Prior 0.3 pct
0830 Personal Income mm for Jan: Expected 0.3 pct; Prior 0.3
0830 Consumption, adjusted mm for Jan: Expected 0.3 pct;
Prior 0.5 pct
0830 Core PCE price index mm for Jan: Expected 0.2 pct;
Prior 0.1 pct
0830 Core PCE price index yy for Jan: Prior 1.7 pct
0830 PCE price index mm for Jan: Prior 0.2 pct
0830 PCE price index yy for Jan: Prior 1.6 pct
0900 Dallas fed PCE for Jan: Prior 1.8 pct
0945 Markit Manufacturing PMI Final for Feb: Prior 54.3
1000 Construction spending mm for Jan: Expected 0.6 pct;
Prior -0.2 pct
1000 ISM Manufacturing PMI for Feb: Expected 56.0; Prior
1000 ISM Manufacturing Prices Paid for Feb: Expected 68.0;
1000 ISM Manufacturing Employment Index for Feb: Expected
55.9; Prior 56.1
1000 ISM Manufacturing New Orders Index for Feb: Prior 60.4
1530 Domestic car sales for Feb: Expected 4.81 mln; Prior
1530 Domestic truck sales for Feb: Expected 17.70 mln; Prior
1530 Total vehicle sales for Feb: Expected 9.00 mln; Prior
1530 All car sales for Feb: Prior 6.58 mln
1530 All truck sales for Feb: Prior 11.03 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$1.33)
(Reporting by Nayyar Rasheed in Bengaluru; Editing by Maju