March 14 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Wednesday as crude oil prices rose on strong Chinese factory data.
March futures on the S&P TSX index were up 0.48 percent at 7:15 a.m. ET.
Canadian producers of industrial metals such as copper and palladium will also be in focus as the upbeat data lifted prices of the commodities.
The country’s main stock index ended higher on Tuesday as gold and energy companies advanced and as comments from Bank of Canada Governor Stephen Poloz indicated the central bank will remain cautious in its policy decisions.
Dow Jones Industrial Average e-mini futures were up 0.4 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.3 percent and Nasdaq 100 e-mini futures were up 0.5 percent.
The U.S. Commerce Department said on Tuesday it had made a preliminary finding that some imports from Canada of uncoated groundwood paper used in newsprint were dumped, and imposed preliminary duties of up to 22.16 percent.
ANALYST RESEARCH HIGHLIGHTS
Bellatrix Exploration Ltd: Canaccord Genuity cuts price target to C$1.75 from C$2.25
Petrus Resources Ltd: CIBC initiates coverage with neutral rating, price target C$1.50
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1325.6; -0.11 percent
US crude: $61.13; +0.69 percent
Brent crude: $65.03; +0.6 percent
LME 3-month copper: $7024; +1.14 percent
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 PPI final demand yy for Feb: Expected 2.8 pct; Prior 2.7 pct
0830 PPI final demand mm Feb: Expected 0.1 pct; Prior 0.4 pct
0830 PPI exfood/energy yy for Feb: Expected 2.5 pct; Prior 2.2 pct
0830 PPI exrood/energy mm for Feb: Expected 0.2 pct; Prior 0.4 pct
0830 PPI ex food/energy/tr yy for Feb: Prior 2.5 pct
0830 PPI ex food/energy/tr mm for Feb: Prior 0.4 pct
0830 Retail sales ex-autos mm for Feb: Expected 0.4 pct; Prior 0 pct
0830 Retail sales mm for Feb: Expected 0.3 pct; Prior -0.3 pct
0830 Retail ex gas/autos for Feb: Prior -0.2 pct
0830 Retail control for Feb: Expected 0.4 pct; Prior 0 pct
1000 Business inventories mm for Jan: Expected 0.6 pct; Prior 0.4 pct
1200 TR IPSOS PCSI for Mar: Prior 63.06
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$1.30) (Reporting by Nayyar Rasheed in Bengaluru Editing by Saumyadeb Chakrabarty)
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