Nov 24 (Reuters) - Canada’s main stock index looked set to extend the previous session’s losses on Tuesday, with December futures on the S&P TSX index down 0.31 percent at 7:10 a.m. ET.
Global security concerns remained at the forefront after the U.S. State Department issued a global travel alert for Americans on Monday.
On Tuesday, Turkey said it shot down a Russian warplane that had violated its airspace near the Syrian border.
Canada’s main stock index was pulled lower by financial, industrial and healthcare stocks on Monday, cancelling out energy gains after the country’s main oil-producing province unveiled a plan to tax carbon emissions and Saudi Arabia vowed to support oil prices.
Dow Jones Industrial Average e-mini futures were down 0.46 percent at 7:10 a.m. ET, while S&P 500 e-mini futures were down 0.39 percent and Nasdaq 100 e-mini futures were down 0.46 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Canadian plane and train maker Bombardier Inc said lower production of its business jets - Global 5000 and Global 6000 - will drive down revenue in 2016. The company is scheduled to hold an investor day on Tuesday.
Activist investor Bill Ackman’s hedge fund has significantly increased its investment in Valeant Pharmaceuticals International, and signaled it may play a greater role in the beleaguered drugmaker’s strategy, according to a regulatory filing.
Canada will tell a green summit next week that it is finally ready to tackle climate change, Prime Minister Justin Trudeau said on Monday after a meeting with the country’s provinces to work out a national strategy.
COMMODITIES AT 7:10 a.m. ET
Gold futures : $1,073.2; +0.6 pct
US crude : $42.34; +1.44 pct
Brent crude : $45.47; +1.43 pct
LME 3-month copper : $4,501; +0.26 pct
ANALYST RESEARCH HIGHLIGHTS
TD Bank : Canaccord Genuity raises target price to C$56 from C$54
Bank of Nova Scotia : Canaccord Genuity raises target price to C$71 from C$67
Manitoba Telecom Services Inc : Canaccord Genuity raises target price to C$29 from C$27
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 Advance goods trade balance for Oct: Prior -58.63 bln
0830 Corporate profits preliminary for Q3: Prior +2.6 pct
0830 GDP 2nd estimate for Q3: Expected +2.1 pct; Prior +1.5 pct
0830 GDP sales preliminary for Q3: Expected +3.0 pct; Prior +3.0 pct
0830 GDP cons spending preliminary for Q3: Prior +3.2 pct
0830 GDP deflator preliminary for Q3: Expected +1.2 pct; Prior +1.2 pct
0830 Core PCE prices preliminary for Q3: Expected +1.3 pct; Prior +1.3 pct
0830 PCE prices preliminary for Q3: Expected +1.2 pct; Prior +1.2 pct
0855 Redbook mm: Prior +0.8 pct
0855 Redbook yy: Prior +1.2 pct
0900 CaseShiller 20 mm SA for Sep: Expected +0.3 pct; Prior +0.1 pct
0900 CaseShiller 20 mm NSA for Sep: Expected +0.4 pct; Prior +0.4 pct
0900 CaseShiller 20 yy for Sep: Expected +5.1 pct; Prior +5.1 pct
1000 Consumer Confidence for Nov: Expected +99.5; Prior +97.6
1000 Rich Fed Comp. Index for Nov: Prior -1
1000 Rich Fed, Services Index for Nov: Prior +18
1000 Rich Fed Manufacturing Shipments for Nov: Prior -4
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$1.34 Reporting by Ayesha Sruti Ahmed in Bengaluru; Editing by Sriraj Kalluvila
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