November 27, 2019 / 12:31 PM / 15 days ago

REFILE-CANADA STOCKS-TSX futures gain on rising hopes of a trade deal

(Corrects day to Wednesday in U.S. economic data section)

Nov 27 (Reuters) - Canada’s main stock index futures rose on Wednesday, as upbeat comments from President Donald Trump lifted hopes that the United States and China were close to a trade deal.

Trump said Washington was in the “final throes” of work on a deal that would defuse a 16-month trade dispute with Beijing.

December futures on the S&P/TSX index were up 0.15% at 7:00 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index rose 0.02% to 17,035.88 on Tuesday.

Dow Jones Industrial Average e-mini futures were up 0.01% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.11% and Nasdaq 100 e-mini futures were up 0.22%.

TOP STORIES

The Bank of Canada is now expected to hold rates through to the end of next year, according to a slim majority of economists in a Reuters poll, with forecasts on whether or not the central bank holds or cuts sitting on a knife’s edge through 2020.

Canada’s longest railroad strike in a decade ended on Tuesday as Canadian National Railway Co reached a tentative agreement with workers, but shippers warned it could take weeks before service bounces back to normal.

Alimentation Couche-Tard Inc missed quarterly revenue estimates on Tuesday, as the Canadian convenience store operator’s fuel business was hit by lower selling prices.

ANALYST RESEARCH HIGHLIGHTS

Bank of Nova Scotia: RBC cuts price target to C$78 from C$80

Calian Group Ltd: Canaccord Genuity raises price target to C$45 from C$40

Lundin Mining Corp: National Bank of Canada raises price target to C$8.75 from C$8.50

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1462.6; -0.12%

US crude: $58.59; +0.31%

Brent crude: $64.51; +0.37%

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 Corporate profits preliminary for Q3: Prior 3.7%

0830 Durable goods for Oct: Expected -0.8%; Prior -1.2%

0830 Durables ex-transport for Oct: Expected 0.1%; Prior -0.4%

0830 Durables ex-defense mm for Oct: Prior -1.3%

0830 Nondefense cap ex-air for Oct: Expected -0.3%; Prior -0.6%

0830 GDP 2nd estimate for Q3: Expected 1.9%; Prior 1.9%

0830 GDP sales preliminary for Q3: Expected 2.0%; Prior 2.0%

0830 GDP consumer spending preliminary for Q3: Prior 2.9%

0830 GDP deflator preliminary for Q3: Expected 1.7%; Prior 1.6%

0830 Core PCE prices preliminary for Q3: Expected 2.2%; Prior 2.2%

0830 PCE prices preliminary for Q3: Expected 1.5%; Prior 1.5%

0830 Initial jobless claims : Expected 221,000; Prior 227,000

0830 Jobless claims 4-week average : Prior 221,000

0830 Continued jobless claims : Expected 1.690 mln; Prior 1.695 mln

1000 Personal income mm for Oct: Expected 0.3%; Prior 0.3%

1000 Personal consumption real mm for Oct: Prior 0.2%

1000 Consumption, adjusted mm for Oct: Expected 0.3%; Prior 0.2%

1000 Core PCE price index mm for Oct: Expected 0.1%; Prior 0.0%

1000 Core PCE price index yy for Oct: Expected 1.7%; Prior 1.7%

1000 PCE price index mm for Oct: Prior 0.0%

1000 PCE price index yy for Oct: Prior 1.3%

1000 Pending Homes Index for Oct: Prior 108.7

1000 Pending sales change mm for Oct: Expected 0.8%; Prior 1.5%

1200 (approx.) Dallas fed PCE for Oct: Prior 1.6%

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 Swathi Nair in Bengaluru; Editing by Sriraj Kalluvila

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