January 25, 2018 / 12:35 PM / 3 months ago

CANADA STOCKS--TSX futures edge higher as oil prices rise

Jan 25 (Reuters) - Futures on Canada’s main stock index edged higher on Thursday as oil prices rose to $71 a barrel for the first time since 2014, benefiting from a weaker dollar, OPEC-led supply curbs and drop in U.S. crude inventories.

March futures on the S&P TSX index were up 0.07 percent at 7:15 a.m. ET.

Retail sales for November data is due at 08:30 ET.

On Wednesday, Canada’s main stock index fell, weighed by declines for financial shares, Valeant Pharmaceuticals International Inc and Canadian National Railway Co , while gold-mining stocks were boosted by higher gold prices.

Dow Jones Industrial Average e-mini futures were up 0.26 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.3 percent and Nasdaq 100 e-mini futures were up 0.55 percent.

(Morning News Call newsletter here ; The Day Ahead newsletter here)

TOP STORIES

Bank of Canada Governor Stephen Poloz said even he did not know what potential there may be for further interest rate hikes this year, reiterating that policymakers remained both data dependent and alert to developments with North American Free Trade Agreement.

ANALYST RESEARCH HIGHLIGHTS

Goeasy Ltd: Desjardins raises price target to C$43 from C$42

Stella-Jones Inc: Desjardins raises price target to C$54 from C$49

WSP Global Inc: Canaccord Genuity raises price target to C$61 from C$58

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1358.51; +0.03 percent

US crude: $66.09; +0.73 percent

Brent crude: $70.83; +0.43 percent

LME 3-month copper: $7155.5; +0.08 percent

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial jobless claims: Expected 240,000; Prior 220,000

0830 Jobless claims 4-week average: Prior 244,500

0830 Continued jobless claims: Expected 1.925 mln; Prior 1.952 mln

1000 Leading index change mm for Dec: Expected 0.5 pct; Prior 0.4 pct

1000 New home Sales-Units for Dec: Expected 0.679 mln; Prior 0.733 mln

1000 New home sales change mm for Dec: Expected -7.9 pct; Prior 17.5 pct

1100 KC Fed Manufacturing for Jan: Prior 21

1100 KC Fed Composite Index for Jan: Prior 14

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$1.23) (Reporting by Pathikrit Bandyopadhyay in Bengaluru; Editing by Arun Koyyur)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below