September 26, 2018 / 11:26 AM / 24 days ago

CANADA STOCKS-TSX futures higher ahead of expected U.S. rate hike

Sept 26 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Wednesday ahead of the U.S. Federal Reserve's decision on monetary policy later in the day.

With the Federal Reserve widely expected to raise interest rates, financial markets are focused on whether signs of an acceleration in U.S. economic growth will prompt the central bank to ramp up the pace of monetary policy tightening.

December futures on the S&P/TSX index were up 0.22 percent at 7:00 a.m. ET.

The Toronto Stock Exchange's S&P/TSX fell 47.82 points, or 0.3 percent, to 16,159.50 on Tuesday.

Dow Jones Industrial Average e-mini futures were up 0.18 percent at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.20 percent and Nasdaq 100 e-mini futures were up 0.23 percent.

TOP STORIES

A potentially "catastrophic" incident involving an Air Canada passenger jet that overflew other aircraft at close range on a San Francisco International Airport taxiway was the result of crew errors, the U.S. National Transportation Safety Board (NTSB) said on Tuesday.

ANALYST RESEARCH HIGHLIGHTS

Aurora Cannabis Inc. Canaccord Genuity raises target price to C$13 from C$11

DHX Media Ltd. CIBC cuts target price to C$2 from C$3

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1198.2; -0.13 percent

US crude: $72.1; -0.25 percent

Brent crude: $81.66; -0.26 percent

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0800 (approx.) Build permits number for Aug: Prior 1.229 mln

0800 (approx.) Build permits R change mm for Aug: Prior -5.7 pct

1000 New home sales-units for Aug: Expected 0.63 mln; Prior 0.627 mln

1000 New home sales change mm for Aug: Expected 0.5 pct; Prior -1.7 pct

1400 Fed funds target rate for 26 Sep: Expected 2-2.25 pct; Prior 1.75-2 pct

1400 Fed int on excess reserves for 26 Sep: Prior 1.95 pct

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 Anil D'Silva)

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