Reuters logo
CANADA STOCKS-Futures edge higher as oil rises; inflation data eyed
November 17, 2017 / 12:35 PM / a month ago

CANADA STOCKS-Futures edge higher as oil rises; inflation data eyed

Nov 17 (Reuters) - Futures pointed to a slightly higher opening for Canada’s main stock index on Friday amid a rise in oil prices and ahead of monthly inflation data.

The annual inflation rate is expected to have cooled to 1.4 percent in October, which will likely give the Bank of Canada room to take its time raising interest rates after two back-to-back hikes earlier this year. The data is due for release at 0830 ET.

Oil prices rose but remained en route for their first week of losses in six, as concerns grew over Russia’s support for an extension of the crude output cuts that have bolstered prices in recent months.

December futures on the S&P TSX index were up 0.08 percent at 7:15 a.m. ET.

Canada’s main stock index broke a six-day losing streak on Thursday, helped by gains among its biggest banking stocks as bond yields rose, while continued weakness in oil prices weighed on its energy companies.

Dow Jones Industrial Average e-mini futures were down 0.06 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.05 percent and Nasdaq 100 e-mini futures were up 0.11 percent.

(Morning News Call newsletter here ; The Day Ahead newsletter here)

TOP STORIES

TransCanada Corp shut part of its Keystone oil pipeline system after a 5,000-barrel leak in South Dakota, the company said on Thursday, four days before neighboring Nebraska was set to decide on the company’s long-delayed Keystone XL pipeline.

ANALYST RESEARCH HIGHLIGHTS

Great-West Lifeco:National Bank of Canada ups rating to “outperform” from “sector perform”

Teck Resources Ltd: CIBC starts with “outperformer” rating; C$38 price target

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1,288.3; +0.39 pct

US crude: $56.05; +1.65 pct

Brent crude: $62.13; +1.24 pct

LME 3-month copper: $6,776.00; +0.58 pct

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Building permits: number for Oct: Expected 1.247 mln; Prior 1.225 mln

0830 Build permits: change mm for Oct: Prior -3.7 pct

0830 Housing starts number mm for Oct: Expected 1.185 mln; Prior 1.127 mln

0830 House starts mm: change for Oct: Prior -4.7 pct

1030 ECRI Weekly Index: Prior 145.6

1030 ECRI weekly annualized: Prior 3.2 pct

1100 KC Fed Manufacturing for Nov: Prior 20

1100 KC Fed Composite Index for Nov: Prior 23

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$1.27 Compiled by Nivedita Balu; Editing by Sai Sachin Ravikumar

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