September 18, 2019 / 11:24 AM / a month ago

CANADA STOCKS-Futures edge higher ahead of U.S. Fed decision

Sept 18 (Reuters) - Futures for Canada’s main stock index inched higher on Wednesday ahead of the U.S. Federal Reserve’s monetary policy decision.

September futures on the S&P/TSX index were up 0.02% at 7:00 a.m. ET.

Canadian inflation data is due at 8:30 a.m. ET.

The Toronto Stock Exchange S&P/TSX composite index rose 0.50% to 16,834.75 on Tuesday.

Dow Jones Industrial Average e-mini futures were down 0.07% at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.13% and Nasdaq 100 e-mini futures were down 0.13%.

TOP STORY

The Minnesota Supreme Court declined on Tuesday to hear environmental and tribal challenges to Enbridge Inc’s Line 3 oil pipeline, a decision that removes one potential obstacle for the already-delayed project.

ANALYST RESEARCH HIGHLIGHTS

Horizon North Logistics Inc: TD Securities cuts price target to C$1.40 from C$1.60

Canadian Pacific Railway Ltd: Cowen and Company cuts price target to $257 from $258

Pretium Resources Inc: CIBC raises price target to C$18 from C$15.50

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,502.7; -0.28%

US crude: $58.93; -0.69%

Brent crude: $64.36; -0.29%

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 Building permits number for Aug: Expected 1.300 mln; Prior 1.317 mln

0830 Build permits change mm for Aug: Prior 6.9%

0830 Housing starts number for Aug: Expected 1.250 mln; Prior 1.191 mln

0830 House starts mm change for Aug: Prior -4.0%

1400 Fed funds target rate: Expected 1.75-2%; Prior 2-2.25%

1400 Fed int on excess reserves: Prior 2.10%

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$1.33) (Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Maju Samuel)

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