July 27 (Reuters) - Stock futures pointed to a slightly higher opening for Canada’s main stock index on Thursday as commodity prices rose on dovish signals from the U.S. Federal Reserve.
September futures on the S&P TSX index were up 0.10 percent at 7:15 a.m. ET.
Canada’s main stock index slipped on Wednesday, as financial stocks fell after the U.S. Federal Reserve held its interest rates steady and as investors pulled back from Canadian National Railway and grocer Loblaw Cos after their earnings.
Dow Jones Industrial Average e-mini futures were up 0.13 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.19 percent and Nasdaq 100 e-mini futures were up 0.53 percent.
Canada’s Potash Corp of Saskatchewan reported better-than-expected revenue on Thursday as it sold more potash at higher prices compared with last year.
Canadian oil and gas producer Crescent Point Energy Corp posted a quarterly profit, compared with a year-earlier loss, helped by higher realized oil prices and an increase in production.
Oil producer Cenovus Energy Inc on Thursday reported a profit in the second quarter compared to a year-ago loss, helped by its purchase of ConocoPhillips’ Canadian oil sands assets.
ANALYST RESEARCH HIGHLIGHTS
AGT Food and Ingredients Inc: Raymond James cuts price target to C$32 from C$35
First National Financial Corp: RBC cuts rating to “underperform” from “sector perform”
Prairiesky Royalty Ltd: GMP raises target price to C$31 from C$30
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1,249; +0.0 pct
US crude: $48.54; -0.59 pct
Brent crude: $50.70; -0.53 pct
LME 3-month copper: $6,355; +0.41 pct
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Build permits R number mm for June: Prior 1.254 mln
0830 Build permits R changes mm for June: Prior 7.4 pct
0830 Durable goods for Jun: Expected 3 pct; Prior -0.8 pct
0830 Durables ex-transport for June: Expected 0.4 pct; Prior 0.3 pct
0830 Durables ex-defense mm for June: Prior -0.3 pct
0830 Nondefense cap ex-air for June: Expected 0.3 pct; Prior 0.2 pct
0830 Advanced goods trade balance for June: Prior -$66.30 bln
0830 Advanced wholesale inventory for June: Prior 0.4 pct
0830 Advanced retail inventory ex auto for June: Prior 0.2 pct
0830 Initial jobless claims: Expected 241,000; Prior 233,000
0830 Jobless claims 4-week average: Prior 243,750
0830 Continued jobless claims: Expected 1.950 mln; Prior 1.977 mln
0830 National Activity Index for Jun: Prior -0.26
1100 KC Fed Manufacturing for July: Prior 23
1100 KC Fed Composite Index for July: Prior 11
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Canadian markets directory ($1= C$1.24) (Reporting by Riniki Sanyal in Bengaluru; Editing by Saumyadeb Chakrabarty)
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