Dec 13 (Reuters) - Canada stock futures pointed to a higher opening for the main stock index on Tuesday, ahead of the U.S. Federal Reserve’s two-day meeting that starts later in the day.
The Fed is widely expected to raise interest rates, with investors looking for clues on the central bank’s thinking on further hikes in 2017.
December futures on the S&P TSX index were up 0.42 percent at 7:15 a.m. ET.
Canada’s main stock index ended slightly lower on Monday, breaking a six-day rally, as railway stocks weighed and an early jump in energy stocks lost steam.
Dow Jones Industrial Average e-mini futures were up 0.34 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.27 percent and Nasdaq 100 e-mini futures were up 0.33 percent.
Husky Energy Inc said it expected to increase production in 2017 as it aims to grow margins.
Japan’s biggest steelmaker Nippon Steel said it has agreed with Glencore Plc and Teck Resources Ltd on a coking coal price for first quarter of 2017 supplies that is 43 percent higher than the previous quarter.
ANALYST RESEARCH HIGHLIGHTS
Canadian Natural Resources : Instinet raises target price to C$48 from C$44
Enerplus Corp : RBC raises target price to C$14 from C$13
Wajax Corp : TD Securities cuts rating to “hold” from “buy”
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,160; -0.4 pct
US crude : $53.41; +1.04 pct
Brent crude : $56.40; +1.22 pct
LME 3-month copper : $5,773; +0.09 pct
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 Import prices mm for Nov: Expected -0.4 pct; Prior +0.5 pct
0830 Export prices mm for Nov: Expected -0.2 pct; Prior +0.2 pct
0855 Redbook mm: Prior +0.2 pct
0855 Redbook yy: Prior +0.7 pct
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TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($1= C$1.31) (Reporting by Nivedita Balu in Bengaluru; Editing by Saumyadeb Chakrabarty)
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