March 16 Stock futures pointed to a higher
opening for Canada's main stock index on Thursday as commodities
gained on the dollar's drop in the wake of the U.S. Federal
Reserve's dovish tone for rate hikes this year.
The Fed on Wednesday raised interest rates, as expected, but
signaled only a gradual rate tightening. That sent the dollar to
a one-month low, and gold and copper to one-week highs.
Oil prices also rose for a second day, as the dollar
weakened and as U.S. data showing crude inventories had dipped
after rising for nine weeks.
A rally in commodities on Wednesday following the Fed's
statement, boosted shares of natural resource companies, helping
Canada's main stock index rebound from a 2017 low hit in the
March futures on the S&P TSX index were up 0.26
percent at 7:15 a.m. ET.
Dow Jones Industrial Average e-mini futures were up
0.33 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
were up 0.26 percent and Nasdaq 100 e-mini futures
were up 0.31 percent.
Data on foreign investment in Canadian securities is due at
8:30 a.m. ET .
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Indian Oil Corp became India's first refiner to buy
light sweet Hibernia crude from Canada's largest oil company
Suncor Energy , doing the deal after the opening of the
arbitrage for Canadian oil to flow to Asia.
Retailer Canada Goose Holdings Inc said on
Wednesday it has priced its initial public offering at C$17 per
share, above its target range.
ANALYST RESEARCH HIGHLIGHTS
Automotive Properties : CIBC starts coverage
with "outperformer" rating; C$11.25 target price
Bombardier : Desjardins raises rating to "buy" from
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1222.9; +1.9 percent
US crude : $49.24; +0.78 percent
Brent crude : $52.26; +0.87 percent
LME 3-month copper : $5937; +1.24 percent
U.S. ECONOMIC DATA DUE ON THURSDAY
08:30 Building permits number for Feb: Expected 1.260 mln;
Prior 1.293 mln
08:30 Build permits change mm for Feb: Prior 5.3 pct
08:30 Housing starts number mm for Feb: Expected 1.260 mln;
Prior 1.246 mln
08:30 House starts change mm for Feb: Prior -2.6 pct
08:30 Initial jobless claims: Expected 240,000; Prior
08:30 Jobless claims 4-week average: Prior 236,500
08:30 Continued jobless claims: Expected 2.050 mln; Prior
08:30 Philly Fed Business Index for Mar: Expected 30.0;
08:30 Philly Fed 6M Index for Mar: Prior 53.50
08:30 Philly Fed Capex Index for Mar: Prior 22.10
08:30 Philly Fed Employment for Mar: Prior 11.10
08:30 Philly Fed Prices Paid for Mar: Prior 29.90
08:30 Philly Fed New Orders for Mar: Prior 38.00
10:00 JOLTS job openings for Jan: Prior 5.501 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 Savio