July 10 Canadian stocks looked set to open lower
on Thursday, as global traders fretted over whether markets will
be able to thrive once the U.S. Fed stops pumping funds in the
June futures on the S&P TSX index <0#SXF:> were down 0.55
percent at 0715 ET.
New-housing price data for May is due at 0830 ET.
The market advanced on Wednesday after minutes from the
Federal Reserve's June meeting offered details about its
stimulus program phase-out and more clarity on its ideas about
raising interest rates.
Dow Jones Industrial Average e-mini futures were
down 0.89 percent at 0715 ET, while S&P 500 e-mini futures
were down 0.94 percent. Nasdaq 100 e-mini futures
were down 0.96 percent.
(Morning News Call newsletter link.reuters.com/nex49s;
The Day Ahead newsletter link.reuters.com/mex49s)
Cogeco Cable Inc reported a lower third-quarter
profit and cut its full-year profit outlook by 10.6 percent due
to impairment charges at Cogeco Cable Canada.
Canada is considering issuing more ultra-long bonds,
maturing in 50 years, which would allow the government to lock
in borrowing costs near historic lows through an expansion of an
offering first made earlier this year.
The Globe and Mail newspaper reached a tentative contract
deal with the union representing its editorial, advertising
sales and circulation workers, likely averting a work stoppage
at the country's largest national daily.
COMMODITIES AT 0715 ET
Gold futures : $1,341.8; +1.32 pct
US crude : $101.74; -0.54 pct
Brent crude : $108.06; -0.2 pct
LME 3-month copper : $7,098.00; -0.38 pct
ANALYST RESEARCH HIGHLIGHTS
Air Canada : CIBC raises target to C$14.25 from
C$11; rating sector outperformer
Canyon Services Group : CIBC raises target to C$22
from C$19.50; sector performer
Theratechnologies Inc : Canaccord Genuity cuts target
to C$0.50 from C$0.55; rating hold
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Initial jobless claims: Expected +315,000, prior
0830 Jobless claims 4-week average: Prior +315,000
0830 Continued jobless claims: Expected +2.567 mln, prior
1000 Wholesale inventories mm for May: Expected +0.6 pct,
prior +1.1 pct
1000 Wholesale sales mm for May: Expected +0.7 pct, prior
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= $1.07 Canadian)
(Reporting by Mononshila Deka in Bangalore; Editing by Ted