Oct 9 Canadian stock index futures pointed to a
higher open on Wednesday on news that U.S. President Barack
Obama has tapped Janet Yellen to head the Federal Reserve,
though concerns over the impact of a budget deadlock could put a
lid on gains.
* U.S. President Barack Obama will nominate Fed number two
Janet Yellen to run the U.S. central bank, providing some relief
to markets that would expect her to tread carefully in winding
down economic stimulus. Also, Obama refused to give ground in a
fiscal confrontation with Republicans on Tuesday, saying he
would negotiate on budget issues only if they agree to re-open
the federal government and raise the debt limit with no
* British industrial output suffered an unexpected fall in
August as factories cut production, casting some doubt on the
positive message about the economy from private-sector surveys.
* Costco Wholesale Corp posted a 1 percent rise in quarterly
profit and a three percent increase in its same-store sales for
the month of September.
* Aluminium producer Alcoa Inc reported better than expected
earnings on Tuesday, as strength at the unit that sells auto
parts and other complex items helped offset lower metal prices.
* Canada stock futures traded up 0.29 percent
* U.S. stock futures , , were up
around 0.2 percent to 0.25 percent
* European shares, were mixed
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 287.8925;
fell 0.24 percent
* Gold futures : $1,311.5; fell 0.96 percent
* US crude : $103.29; fell 0.19 percent
* Brent crude : $109.79; fell 0.34 percent
* LME 3-month copper : $7,167.5; fell 0.99 percent
CANADIAN STOCKS TO WATCH
* Bombardier Inc : Mexico's government will tender
three passenger train projects next year worth 97 billion pesos,
two of which will service the capital's sprawling metropolitan
area, the country's transport ministry said on Tuesday.
Bombardier will likely bid on each of the rail projects, the
company's Mexico chief said in June.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Agrium Inc : Piper Jaffray raises price target of
its U.S. listed shares to $93 from $90, says the recently closed
Viterra acquisition and the Vanscoy potash expansion project
represent company specific growth catalysts over the next two
* Ritchie Bros. Auctioneers Inc : Credit Suisse cuts
target price of its U.S. listed shares to $18 from $20 after the
company's announcement that the CEO is stepping down in 2014.
* Tourmaline Oil Corp : National Bank Financial
resumes coverage with outperform; price target C$52.50, says the
company's aggressive growth profile will continue into 2014.
ON THE CALENDAR
* No major Canadian economic data scheduled for the day
* Major U.S. events and data includes FOMC minutes 17-18