Reuters logo
CANADA STOCKS-TSX futures lower on Trump tax cut doubts
March 22, 2017 / 11:37 AM / 8 months ago

CANADA STOCKS-TSX futures lower on Trump tax cut doubts

March 22 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Wednesday on growing doubts whether U.S. President Donald Trump will be able to deliver on promised tax cuts.

Investors see the Trump administration’s struggles to push through the healthcare overhaul as a sign he may also face setbacks delivering promised corporate tax cuts.

Adding to pressure, oil prices slipped after data showed U.S. crude inventories rising faster than expected.

June futures on the S&P TSX index were down 0.15 percent at 7:10 a.m. ET.

No economic indicators are scheduled for release.

Canada’s benchmark stock index fell on Tuesday, with heavyweight financial stocks following Wall Street banks lower as investors fretted about U.S. President Donald Trump’s ability to boost growth and energy stocks weighing with lower oil prices.

Dow Jones Industrial Average e-mini futures were down 0.19 percent at 7:10 a.m. ET, while S&P 500 e-mini futures were down 0.07 percent and Nasdaq 100 e-mini futures were down 0.06 percent.

(Morning News Call newsletter here ; The Day Ahead newsletter here)

TOP STORIES

Amaya Inc, the owner of online gambling sites PokerStars and Full Tilt, reported a fourth-quarter profit, compared with a year-ago loss, as it added more customers and cut costs.

A Canadian court has placed Lexin Resources Ltd, a privately held oil company, in receivership to sell off its assets after an unprecedented application by the Alberta Energy Regulator (AER), the agency said.

Canadian oilfield services provider Trican Well Service Ltd said it would buy smaller rival Canyon Services Group Inc in a deal valued at about C$637 million, including debt.

ANALYST RESEARCH HIGHLIGHTS

BCE Inc: Barclays reinstates coverage with “overweight” rating

First Quantum Minerals Ltd: Berenberg raises rating to “hold” from “sell”

Dream Global <REIT DRG_u.TO>: NBF resumes coverage with “outperform” rating

Teck Resources Ltd: Berenberg raises rating to “buy” from “hold”

COMMODITIES AT 7:10 a.m. ET

Gold futures: $1,245.1; -0.11 pct

US crude: $47.57; -1.39 pct

Brent crude: $50.22; -1.45 pct

LME 3-month copper: $5,734.50; -0.72 pct

U.S. ECONOMIC DATA DUE ON WEDNESDAY

09:00 Monthly home price mm for Jan: Prior 0.4 pct

09:00 Monthly home price yy for Jan: Prior 6.2 pct

09:00 Monthly Home Price Index for Jan: Prior 242.6

10:00 Existing home sales for Feb: Expected 5.57 mln; Prior 5.69 mln

10:00 Existing home sales percentage change for Feb: Expected -2.0 pct; Prior 3.3 pct

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$1.34)

Reporting by Astha Rawat in Bengaluru; Editing by Anil D'Silva

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below