September 25, 2018 / 11:32 AM / 3 months ago

CANADA STOCKS-TSX futures rise as oil hits four-year highs

September 25 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Tuesday as oil prices touched four-year highs.

Upcoming U.S. sanctions on Iranian crude exports and the apparent reluctance of OPEC and Russia to raise output has pushed crude prices higher.

December futures on the S&P/TSX index were up 0.3 percent at 7:00 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX fell 16.81 points, or 0.10 percent, to 16,207.32 on Monday.

Dow Jones Industrial Average e-mini futures were up 0.32 percent at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.26 percent and Nasdaq 100 e-mini futures were up 0.17 percent.

TOP STORIES

As the month-end deadline for North American trade talks nears, Canadian executives who hedge foreign exchange risk have been changing their strategies so their companies can profit from any possible swings in the Canadian dollar.

ANALYST RESEARCH HIGHLIGHTS

North American Construction Group Ltd. Canaccord Genuity raises price target to C$14 from C$11

Onex Corp. Canaccord Genuity cuts target price to C$108 from C$111

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,199.8; +0.2 pct

US crude: $72.51; +0.6 percent

Brent crude: $82.04; +1.03 percent

U.S. ECONOMIC DATA DUE ON TUESDAY

0900 (approx.) Monthly home price mm for Jul: Prior 0.2 pct

0900 (approx.) Monthly home price yy for Jul: Prior 6.5 pct

0900 (approx.) Monthly Home Price Index for Jul: Prior 264

0900 Caseshiller 20 mm SA for Jul: Expected 0.1 pct; Prior 0.1 pct

0900 Caseshiller 20 mm NSA for Jul: Expected 0.5 pct; Prior 0.5 pct

0900 Caseshiller 20 yy for Jul: Expected 6.2 pct; Prior 6.3 pct

1000 Consumer Confidence for Sep: Expected 132; Prior 133.4

1000 Rich Fed Composite Index for Sep: Prior 24

1000 Rich Fed, Services Index for Sep: Prior 31

1000 Rich Fed Manufacturing Shipments for Sep: Prior 23

1030 (approx.) Texas Service Sector Outlook for Sep: Prior 21.5

1030 (approx.) Dallas Fed Services Revenues for Sep: Prior 21.5

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$1.29) (Reporting by Nayyar Rasheed in Bengaluru; Editing by Arun Koyyur)

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