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CANADA STOCKS-Futures down on speculation of March Fed rate hike
March 3, 2017 / 12:46 PM / 9 months ago

CANADA STOCKS-Futures down on speculation of March Fed rate hike

    March 3 (Reuters) - Stock futures pointed to a lower opening
for Canada's main stock index on Friday, with the U.S. dollar
holding on to this week's gains on growing speculation that the
U.S. Federal reserve would raise interest rate this month.
    Traders raised their stakes ahead of a speech from Federal
Reserve Chair Janet Yellen later on Friday that the Fed would
raise short-term borrowing costs at its upcoming March meeting.
    March futures on the S&P TSX index         were down 0.16
percent at 7:15 a.m. ET.
    The Toronto Stock Exchange's S&P/TSX composite index closed
down 0.40 percent at 15,536.65 on Thursday, as gold miners and
other resource stocks lost ground along with lower commodity
prices, while a major oil producer surged on strong earnings.
    Dow Jones Industrial Average e-mini futures         were
down 0.04 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
       were down 0.14 percent and Nasdaq 100 e-mini futures
       were down 0.18 percent.     
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    TOP STORIES          
    Canada's economy grew at a faster pace than anticipated in
the final quarter of 2016, lifted by consumer spending and a
drop in imports, but the strong performance is not expected to
prod the central bank to change its cautious stance on interest
    Jim Mackey, BlackBerry Ltd's        ,          head of
corporate development and strategy, left the technology company
in mid-February, he said on Thursday, leaving a leadership gap
as it transitions to software from smartphone hardware.
    Canadian Western Bank         : CIBC raises target price to
C$32 from C$31
    Cascades         : National Bank Financial raises target
price to C$13.5 from C$12.5
    NewCastle Gold         : National Bank Financial starts with
outperform; C$1.7 target price
    COMMODITIES AT 7:15 a.m. ET           
    Gold futures       : $1231.5; -0.03 percent       
    US crude       : $52.71; +0.19 percent      
    Brent crude        : $55.24; +0.31 percent      
    LME 3-month copper        : $5920; -0.22 percent        
    09:45 Markit Composite Final PMI for Feb: Prior 54.3
    09:45 Markit Services PMI Final for Feb: Prior 53.9
    10:00 ISM N-Manufacturing PMI for Feb: Expected 56.5; Prior
    10:00 ISM N-Manufacturing Business Activity for Feb:
Expected 60.0; Prior 60.3
    10:00 ISM N-Manufacturing Employment Index for Feb: Prior
    10:00 ISM N-Manufacturing New Orders Index for Feb: Prior
    10:00 ISM N-Manufacturing Price Paid Index for Feb: Prior
    10:30 ECRI Weekly Index: Prior 144.6
    10:30 ECRI weekly annualized: Prior 10.5 pct
    TSX market report      
    Canadian dollar and bonds report             
    Reuters global stocks poll for Canada              
    Canadian markets directory         
 ($1 = C$1.34)

 (Reporting by Nayyar Rasheed in Bengaluru; Editing by Maju

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