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CANADA STOCKS-TSX futures higher on US tax reform move
October 20, 2017 / 11:29 AM / a month ago

CANADA STOCKS-TSX futures higher on US tax reform move

Oct 20 (Reuters) - Stock futures for Canada’s main stock index edged higher on Friday after the U.S. Senate approved a budget blueprint that paves the way for tax cuts, raising speculation on the return of the “Trumpflation trade”, and ahead of inflation data.

December futures on the S&P TSX index were up 0.23 percent at 7:15 a.m. ET.

CPI inflation data for September and retail sales data for August are due at 08:30 a.m. ET.

Canada’s main stock index rose on Thursday as financial and industrial shares climbed, while lower oil prices weighed on energy stocks.

Dow Jones Industrial Average e-mini futures were up 0.39 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.22 percent and Nasdaq 100 e-mini futures were up 0.24 percent.

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TOP STORIES

British Business Secretary Greg Clark will hold talks in Canada on Friday to discuss Airbus SE’s plans to buy a majority stake in Bombardier’s C-Series jetliner program aimed at helping it avoid high U.S. import tariffs.

Thailand’s PTT has put off plans to develop its Mariana oil sands project in Canada due to weak oil prices, and booked its third impairment on the project in three years, taking total writedowns on it to $1.8 billion.

ANALYST RESEARCH HIGHLIGHTS

Kinross Gold Corp: Canaccord Genuity raises price target to C$8 from C$7.75

Sandstorm Gold Ltd: Canaccord Genuity cuts price target to C$9.50 from C$10

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1279.6; -0.57 percent

US crude: $50.83; -0.9 percent

Brent crude: $56.84; -0.68 percent

LME 3-month copper: $7039; +1.03 percent

U.S. ECONOMIC DATA DUE ON FRIDAY

1000 Existing home sales for Sep: Expected 5.30 mln; Prior 5.35 mln

1000 Existing Home sales percentage change for Sep: Expected -1.0 pct; Prior -1.7 pct

1030 ECRI Weekly Index: Prior 145.2

1030 ECRI weekly annualized: Prior 1.2 pct

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$1.25) (Reporting by Pathikrit Bandyopadhyay in Bengaluru; Editing by Anil D‘Silva)

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