May 1, 2018 / 11:35 AM / 6 months ago

CANADA STOCKS-TSX futures up after Trump extends tariff exemptions

    May 1 (Reuters) - Canada's main stock index was poised to
open higher on Tuesday after U.S. President Donald Trump
postponed the imposition of steel and aluminum tariffs on the
country, the European Union and Mexico.
    June futures on the S&P TSX index         were up 0.11
percent at 7:15 a.m. ET.
    Amid a slew of earnings, investors will also focus on GDP
data which is due at 8:30 a.m. ET. Canada's economy is likely to
have expanded 0.3 percent in February. 
    Canada's main stock index fell on Monday, weighed by
declines for the financial and materials groups, as the market
reopened after an outage halted trading for several hours on
Friday afternoon.             
    Dow Jones Industrial Average e-mini futures         were
down 0.08 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
       were up 0.01 percent and Nasdaq 100 e-mini futures       
were up 0.03 percent.     
    
 (Morning News Call newsletter here
 ; The Day Ahead newsletter here)
    
    TOP STORIES          
    Trump has postponed the imposition of steel and aluminum
tariffs on Canada, the European Union and Mexico until June 1,
and has reached agreements for permanent exemptions for
Argentina, Australia and Brazil, the White House said on Monday.
            
    Canadian oil and gas producer Encana Corp          beat
analysts' estimates with a 50 percent rise in adjusted profit
for the first quarter, helped by higher production and stronger
prices for its crude.             
    Canada's stock exchange, the world's sixth largest, was back
in business on Monday after a hardware glitch abruptly ended
trading on Friday and the exchange operator TMX Group       
said it was working to ensure there will be no repeat of the
embarrassing market disruption.             
    
    ANALYST RESEARCH HIGHLIGHTS         
    Canadian National Railway Co         : CIBC cuts rating to
neutral from outperformer
    Norbord Inc         : Credit Suisse cuts rating to neutral
from outperform
    
    COMMODITIES AT 7:15 a.m. ET           
    Gold futures       : $1308.6; -0.8 percent       
    US crude       : $67.95; -0.9 percent      
    Brent crude        : $74.14; -0.74 percent      
    LME 3-month copper        : $6787.5; -0.29 percent        
    
    U.S. ECONOMIC DATA DUE ON TUESDAY
    0945 Markit Manufacturing PMI Final for Apr: Prior 56.5
    1000 Construction spending mm for Mar: Expected 0.5 pct;
Prior 0.1 pct
    1000 ISM Manufacturing PMI for Apr: Expected 58.3; Prior
59.3
    1000 ISM Manufacturing Prices Paid for Apr: Expected 78;
Prior 78.1
    1000 ISM Manufacturing Employment Index for Apr: Expected
57.0; Prior 57.3
    1000 ISM Manufacturing New Orders Index for Apr: Prior 61.9
    1030 Texas Service Sector Outlook for Apr: Prior 13.5
    1030 Dallas Fed Services Revenues for Apr: Prior 19.3
    1530 Domestic car sales for Apr: Expected 4.05 mln; Prior
4.10 mln
    1530 Total vehicle sales for Apr: Expected 17.10 mln; Prior
17.48 mln
    1530 Domestic truck sales for Apr: Expected 9.50 mln; Prior
9.64 mln
    1530 All car sales for Apr: Prior 5.62 mln
    1530 All truck sales for Apr: Prior 11.87 mln

    
    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$1.29)

 (Reporting by Nayyar Rasheed in Bengaluru; Editing by Anil
D'Silva)
  
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