October 30, 2019 / 11:40 AM / 19 days ago

CANADA STOCKS-TSX futures slip ahead of Fed, BoC rate decisions

Oct 30 (Reuters) - Canada’s main stock index futures inched lower on Wednesday, ahead of policy decisions from the U.S. Federal Reserve and the Bank of Canada.

December futures on the S&P/TSX index were down 0.12% at 7:00 a.m. ET.

The Bank of Canada is expected to keep interest rates steady in its first policy announcement since the federal election. The decision is due out at 10:00 a.m. ET.

The U.S. Federal Reserve, meanwhile, is likely to announce a quarter-percentage-point cut to its overnight benchmark lending rate when it releases its latest policy statement at 02:00 p.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index closed 0.19% higher at 16,418.14 on Tuesday.

Dow Jones Industrial Average e-mini futures were flat at 7:00 a.m. ET, while S&P 500 e-mini futures were 0.02% higher and Nasdaq 100 e-mini futures were up 0.07%.

TOP STORIES

South Korea’s LS Nikko Copper signed a contract with Canada’s First Quantum Minerals to buy 120,000 tonnes per year of copper concentrate for 15 years starting in 2020, the South Korean copper smelter said.

ANALYST RESEARCH HIGHLIGHTS

Electronic Arts Inc: Credit Suisse raises target price to $118 from $115

KKR & Co Inc: JMP Securities raises target price to $33 from $31

Lattice Semiconductor Corp: Jefferies raises target price to $22 from $19

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1495.4; +0.32%

US crude: $55.53; -0.02%

Brent crude: $61.71; +0.19%

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0815 (approx.) ADP national employment for Oct: Expected 120,000; Prior 135,000

0830 GDP advance for Q3: Expected 1.6%; Prior 2.0%

0830 GDP sales advance for Q3: Expected 2.4%; Prior 3.0%

0830 GDP consumer spending advance for Q3: Prior 4.6%

0830 GDP deflator advance for Q3: Expected 1.9%; Prior 2.6%

0830 Core PCE prices advance for Q3: Expected 2.1%; Prior 1.9%

0830 PCE prices advance for Q3: Expected 2.0%; Prior 2.4%

1400 Fed funds target rate: Expected 1.5%-1.75%; Prior 1.75%-2%

1400 Fed int on excess reserves: Prior 1.80%

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$1.31) (Reporting by Nayyar Rasheed in Bengaluru; Editing by Subhranshu Sahu)

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