Feb 7 Canada's main stock index was set to open
higher on Tuesday, reversing losses from the previous session,
ahead of economic data including trade balance and building
The country's December trade surplus is expected to have
narrowed after posting its first surplus in more than two years
in November. Also, markets will watch to see if exports can
maintain their strength, as the sector has been a key one for
the Bank of Canada's outlook. The data is due at 8:30 a.m. ET.
Canada's building permits, scheduled for release at 8:30
a.m. ET, are forecast to have dropped by 4 percent in December,
extending November's slight decline.
Ivey PMI data for January is due at 10:00 am ET.
March futures on the S&P TSX index were up 0.3
percent at 7:15 a.m. ET.
Canada's main stock index ended lower on Monday, as
heavyweight energy stocks weighed with a fall in oil prices,
while gold miners caught a boost from bullion jumping to its
highest in nearly three months on political uncertainty.
Dow Jones Industrial Average e-mini futures were up
0.32 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 0.24 percent.
(Morning News Call newsletter here
; The Day Ahead newsletter here)
WestJet Airlines Ltd reported a
higher-than-expected quarterly profit as the Canadian carrier
flew more passengers.
ANALYST RESEARCH HIGHLIGHTS
AltaGas Ltd : CIBC raises target price to C$39 from
Auryn Resources : Canaccord Genuity starts coverage
with a "speculative buy" rating
Open Text : Barclays cuts target price to C$53 from
C$101; rating "overweight"
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1229.3; -0.06 percent
US crude : $52.79; -0.42 percent
Brent crude : $55.5; -0.39 percent
LME 3-month copper : $5814; -0.55 percent
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 International trade mm for Dec: Expected -$45.0 bln;
Prior -$45.2 bln
1000 JOLTS job openings for Dec: Expected 5.568 mln; Prior
1500 Consumer credit for Dec: Expected 20.00 bln; Prior
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory
(Reporting by Shradha Singh in Bengaluru; Editing by Shounak