April 30 Stock futures pointed to a higher
opening for Canadian stocks on Wednesday, ahead of the Federal
Reserve's policy meeting to decide on stimulus tapering.
June futures on the S&P TSX index <0#SXF:> were up 0.07
percent at 0715 ET.
GDP and producer prices data are due at 0830 ET
The index climbed on Tuesday to its strongest level in
almost six years as robust results from Suncor Energy Inc
boosted shares of the oil producer and higher oil prices
lifted other energy stocks.
Dow Jones Industrial Average futures were down 0.15
percent, S&P 500 futures were down 0.10 percent and
Nasdaq 100 futures were down 0.29 percent.
Fed officials are expected to decide unanimously at the
conclusion of their two-day meeting on Wednesday to continue
tapering the central bank's massive bond-buying stimulus.
Investors will focus on what their statement implies about the
monetary policy outlook.
(Morning News Call newsletter link.reuters.com/nex49s;
The Day Ahead newsletter link.reuters.com/mex49s)
Barrick Gold Corp , the world's largest gold
miner, reported a 90 percent fall in quarterly earnings, hurt by
lower gold prices and production.
Canadian oil and gas producer Cenovus Energy Inc
reported a better-than-expected operating profit, helped by a 48
percent jump in production at its Christina Lake oil sands
project in northern Alberta.
Loblaw Cos Ltd, Canada's largest grocer, reported a 4
percent rise in quarterly adjusted profit as same-store sales
COMMODITIES AT 0715 ET
Gold futures : $1,289.8; -0.48 pct
US crude : $100.34; -0.93 pct
Brent crude : $108.47; -0.46 pct
LME 3-month copper : $6,718.25; +0.07 pct
ANALYST RESEARCH HIGHLIGHTS
Yamana Gold Inc : Davy cuts rating to neutral from
Genworth MI Canada Inc : RBC raises target price to
C$42 from C$41
Tembec Inc : RBC raises to outperform from sector
perform; target price to C$3.50 from C$3.00
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0815 ADP National Employment for April: Expected +210,000
0830 GDP Advance for Q1: Expected +1.2 pct prior +2.6 pct
0830 GDP Sales Advance for Q1: Expected +1.8 pct prior +2.7
0830 GDP Consumer Spending Adv for Q1: Prior +3.3 pct
0830 GDP Deflator Advance for Q1: Expected +1.6 pct prior
0830 Core PCE Prices Advance for Q1: Expected +1.2 pct prior
0830 PCE Prices Advance for Q1: Expected +1.4 pct prior +1.1
0830 Employment Wages qq for Q1: Prior +0.5 pct
0830 Employment Benefits qq for Q1: Prior +0.6 pct
0830 Employment Costs for Q1: Expected +0.5 pct prior +0.5
0945 Chicago PMI for April: Expected +56.7 prior +55.9
1400 Fed Funds Target Rate N/A: Prior +0.25 pct
1400 QE Total: Prior +55 bln
1400 QE MBS N/A: Prior +25 bln
1400 QE Treasuries N/A: Prior +30 bln
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