Feb 28 (Reuters) - Stock futures pointed to a lower opening
for Canada's main stock index on Tuesday as commodity prices
largely edged down ahead of a speech by U.S. President Donald
Trump.
Investors are shifting their attention to Trump's policy
speech to a joint session of Congress on Tuesday night, when he
is expected to provide clues on his economic plans.
March futures on the S&P TSX index were down 0.14
percent at 7:15 a.m. ET.
Canadian Producer Prices data is due at 8:30 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index closed
down 0.45 percent on Monday, as gold stocks declined sharply,
while the heavyweight financial services group also lost ground.
Dow Jones Industrial Average e-mini futures were up
0.04 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
were down 0.01 percent and Nasdaq 100 e-mini futures
were up 0.01 percent.
(Morning News Call newsletter here
; The Day Ahead newsletter here)
TOP STORIES
Valeant Pharmaceuticals International Inc
reported a 12.9 percent fall in quarterly revenue, its third
straight quarter of a double-digit percentage decrease, as sales
declined across its businesses and realized prices fell.
Bank of Nova Scotia , Canada's third-biggest lender,
reported improved first-quarter earnings that were just ahead of
expectations, benefiting from a strong performance in the
Pacific Alliance trade bloc.
Bank of Montreal , Canada's fourth-biggest lender,
on Tuesday reported first-quarter earnings which were well ahead
of market expectations benefiting from strong performances
across all of its businesses.
ANALYST RESEARCH HIGHLIGHTS
Yellow Pages Ltd : TD Securities cuts target price to
C$11 from C$16
George Weston Ltd : Barclays raises target price to
C$133 from C$127; rating "overweight"
Tricon Capital Group Inc : Raymond James raises
target price to C$13 from C$12.50
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1252; -0.43 percent
US crude : $53.91; -0.26 percent
Brent crude : $55.76; -0.3 percent
LME 3-month copper : $5925; -0.15 percent
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 GDP 2nd estimate for Q4: Expected 2.1 pct; Prior 1.9
pct
0830 GDP sales preliminary for Q4: Expected 1.0 pct; Prior
0.9 pct
0830 GDP cons spending preliminary for Q4: Prior 2.5 pct
0830 GDP deflator preliminary for Q4: Expected 2.1 pct;
Prior 2.1 pct
0830 Core PCE prices preliminary for Q4: Expected 1.3 pct;
Prior 1.3 pct
0830 PCE prices preliminary for Q4: Expected 2.2 pct; Prior
2.2 pct
0830 Advanced goods trade balance for Jan: Prior -64.40 bln
0830 Advanced Wholesale Inventory for Jan: Prior 1.0
0830 Advanced Retail Inventory Ex Auto for Jan: Prior 0.4
0900 CaseShiller 20 mm SA for Dec: Expected 0.7 pct; Prior
0.9 pct
0900 CaseShiller 20 mm NSA for Dec: Prior 0.2 pct
0900 CaseShiller 20 yy for Dec: Expected 5.3 pct; Prior 5.3
pct
0945 Chicago PMI for Feb: Expected 53.0; Prior 50.3
1000 Consumer Confidence for Feb: Expected 111.0; Prior
111.8
1000 Rich Fed Composite Index for Feb: Prior 12
1000 Rich Fed, Services Index for Feb: Prior 15
1000 Rich Fed Manufacturing Shipments for Feb: Prior 13
1030 Texas Service Sector Outlook for Feb: Prior 21.2
1030 Dallas Fed Services Revenue for Feb: Prior 16.2
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$1.32)
(Reporting by Nayyar Rasheed in Bengaluru; Editing by Maju
Samuel)
Our Standards: The Thomson Reuters Trust Principles.