CANADA STOCKS-TSX may open higher on positive commentary by the U.S. Fed
May 1 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Thursday as investors were upbeat a day after U.S. Federal Reserve showed faith in the world's largest economy and cut its massive bond-buying program.
June futures on the S&P TSX index <0#SXF:> were up 0.16 percent at 0715 ET.
Manufacturing PMI data is due at 0930 ET
The index advanced to its highest level in almost six years on Wednesday after positive commentary on the U.S. economy by Federal Reserve Chair Janet Yellen helped reassure investors and drive broad gains.
Dow Jones Industrial Average futures were up 0.07 percent, S&P 500 futures were up 0.05 percent and Nasdaq 100 futures were up 0.27 percent at 0715 ET. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Bombardier Inc reported lower-than-expected quarterly revenue as it earned less from the sale of its aircraft.
Manulife Financial Corp said its first-quarter profit rose by more than 50 percent, helped by a stronger investment performance.
Oil and gas producer Penn West Petroleum Ltd reported a 5 percent fall in gross revenue after production decreased 22 percent.
COMMODITIES AT 0715 ET
Gold futures : $1,282.9; -0.98 pct
US crude : $99.23; -0.51 pct
Brent crude : $107.37; -0.65 pct
LME 3-month copper : $6,644.50; +0.04 pct
ANALYST RESEARCH HIGHLIGHTS
CIBC : Canaccord Genuity starts with buy rating
Cenovus Energy : National Bank Financial cuts rating to sector perform from outperform
Genworth MI Canada Inc : Canaccord Genuity raises price target to C$40.50 from C$38.50
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Personal Consumption Real mm for Mar: Prior +0.2 pct
0830 Personal Income for Mar: Expected +0.4 pct prior +0.3 pct
0830 Consumption, Adjusted mm for Mar: Expected +0.6 pct prior +0.3 pct
0830 Core PCE Price Index yy for Mar: Prior +1.1 pct
0830 PCE Price Index mm for Mar: Prior +0.1 pct
0830 Core PCE Price Index mm for Mar: Expected +0.2 pct prior +0.1 pct
0830 PCE Price Index yy for Mar: Prior +0.9 pct
0830 Initial Jobless Claims: Expected +319,000 prior +329,000
0830 Jobless Claims 4-Wk Avg: Prior +316,750
0830 Continued Jobless Claims: Expected +2.708 mln prior +2.680 mln
0945 Markit manufacturing PMI final for Apr: Prior +55.4
1000 Construction Spending mm for Mar: Expected +0.5 pct prior +0.1 pct
1000 ISM Manufacturing PMI for Apr: Expected +54.3 prior +53.7
1000 ISM Manufacturing prices paid for Apr: Expected +59.1 prior +59.0
1000 ISM Manufacturing Employment Index for Apr: Expected +52.8 prior +51.1
1000 ISM Manufacturing New Orders Index for Apr: Prior +55.1
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= $1.10 Canadian) (Reporting by Mononshila Deka in Banagalore; Editing by Joyjeet Das)
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