July 30, 2019 / 11:29 AM / a month ago

CANADA STOCKS-TSX futures point to dip at opening

July 30 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Tuesday, matching similar moves in European and U.S. markets as investors battened down the hatches ahead of the conclusion of this week’s U.S. Federal Reserve meeting.

September futures on the S&P/TSX index were down 0.21% at 7:00 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX fell 38.87 points, or 0.24 percent, to 16,492.17 on Monday.

Dow Jones Industrial Average e-mini futures were down 0.16% at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.25% and Nasdaq 100 e-mini futures were down 0.44%.

TOP STORIES

Air Canada reported a higher-than-expected profit for the second quarter on Tuesday, as the carrier flew more high-paying passengers, helping it weather the initial impact of the Boeing 737 Max grounding.

Newell Brands Inc named Ravi Saligram, the outgoing chief executive officer of Ritchie Bros Auctioneers, as its top boss, the U.S. household goods maker said on Tuesday.

Nutrien Ltd missed estimates for quarterly earnings and cut its full-year adjusted profit forecast on Monday, as the fertilizer maker struggles with recent floods in the U.S. midwest that delayed planting and a prolonged trade war.

ANALYST RESEARCH HIGHLIGHTS

Ivanhoe Mines Ltd: RBC raises target price to C$7 from C$6

Vermilion Energy Inc: Canaccord Genuity cuts target price to C$40 from C$45

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1431.1; +0.48 percent

US crude: $57.4; +0.93 percent

Brent crude: $64.33; +0.97 percent

U.S. ECONOMIC DATA DUE ON TUESDAY

0830 Personal income mm for Jun: Expected 0.4%; Prior 0.5%

0830 Personal consumption real mm for Jun: Prior 0.2%

0830 Consumption, adjusted mm for Jun: Expected 0.3%; Prior 0.4%

0830 Core PCE price index mm for Jun: Expected 0.2%; Prior 0.2%

0830 Core PCE price index yy for Jun: Expected 1.7%; Prior 1.6%

0830 PCE price index mm for Jun: Prior 0.2%

0830 PCE price index yy for Jun: Prior 1.5%

0900 Caseshiller 20 mm SA for May: Expected 0.2%; Prior 0.0%

0900 Caseshiller 20 mm NSA for May: Prior 0.8%

0900 Caseshiller 20 yy for May: Expected 2.4%; Prior 2.5%

1000 Consumer Confidence for Jul: Expected 125.0; Prior 121.5

1000 Pending Homes Index for Jun: Prior 105.4

1000 Pending sales change mm for Jun: Expected 0.5%; Prior 1.1%

1030 (approx.) Texas Service Sector Outlook for Jul: Prior 3.2

1030 (approx.) Dallas Fed Services Revenues for Jul: Prior 13.6

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)

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